-- German sportswear giant Adidas reported Friday a hefty first-quarter loss, acknowledging its split from controversial US rapper Kanye West was “hurting” its bottom line.

The company booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier.

The end of its highly successful Yeezy line, designed in collaboration with West, hit sales by about 400 million euros in the quarter.

Adidas halted its tie-up with West — now known as Ye — in October after he made a series of anti-Semitic outbursts.

The loss of Yeezy, along with falling revenues for its lifestyle brands, “are of course hurting us,” said new CEO Bjorn Gulden in a statement.

But there was no news Friday about what it would do with its huge stock of Yeezy trainers.

“The options are narrowing,” Gulden told reporters after the results were released, but finding a solution will take time as there are “so many interested parties”.

The company had announced in February that it could suffer an operating loss of as much as 700 million euros this year if decides to write off the value of its entire existing Yeezy inventory. --

digitaljournal.com/business/adidas-posts-loss-as-kanye-west-split-hurts-business/article

GOAT

Not even a Kanye fan, but this is so deserved

karma that a nazi would hurt their finances in the future

Good! Starve!

No matter how many niggas fake hate

They did what they had to but if they really destroy the remaining Yeezy stock that would be unforgiveable. One guy says f***ed up things so you waste all that product in response and damage the environment? Instead of giving it away at least to those who got nothing ? That makes no sense to me , but I get that dumbass people making them think it's an option

Donate the damn shoes or sell them and Donate all proceeds to charity Adidas.

I’m surprised nobody brought this up before

Would you want people to bring up NASA was created by Nazis?

Go woke go broke

Oh well they still rich

Split already cost Adidas a 4th quarter 2022: $632 Million loss of revenue --added to the ensuing pile on from today's 1st quarter results

i thought a decision was expected from them today regarding what to do with the remaining stock?

man $1.3 BILLION of yeezys sitting in warehouses a f*** ton man. theyre so cooked lmao

The company faces other problems tied to the rapper. Investors sued Adidas a week ago in the U.S., alleging the company knew about Ye’s offensive remarks and harmful behavior years before the split and failed to take precautionary measures to limit financial losses.

this is interesting tidbit from the AP article

Well damn

Investors clutching at straws they weren't saying anything when it was making them billions every year but now they wish Adidas took action years beforehand

hilarious

go woke, go broke

if they were really bout it they would give away the rest of the Yeezy stock to people who need it..

That’s what happens when you profit off a person of color then turn your back on them, get s***ted on

Imagine the homeless dripped out in unreleased Yeezy shoes

Start your company with a white nazi, lose it all 100 years because of a black nazi

Ironic they supported Nazis and now decades later a nazi causes them their biggest loss