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Adidas forecasts sales decline in North America amid Yeezy sell-off
March 14, 2024
|The Business Guardian
On Wednesday, Adidas issued a cautionary note regarding a potential sales decline in its overstocked North American market in 2024, as the renowned German sportswear brand continues to navigate the aftermath of selling off its remaining Yeezy inventory.
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Despite facing challenges in the North American market, Adidas anticipates achieving mid-single-digit growth globally in 2024, albeit amidst persistent macroeconomic challenges and geopolitical tensions. The company remains optimistic about its worldwide performance, projecting resilience despite regional headwinds.
Confirming its 2023 operating profit at 268 million euros ($292.9 million), Adidas reported flat currency-neutral sales for the year, surpassing prior expectations. This performance is notable considering the cessation of its Yeezy line, a collaboration with American rapper Ye, formerly known as Kanye West, which significantly impacted revenue.
هذه القصة من طبعة March 14, 2024 من The Business Guardian.
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