Sporting goods Adidas back on track after "Yeezy" problems
The world's second-largest sporting goods manufacturer Adidas is back on track for growth following the end of its problems with Kanye West's "Yeezy" product line.
05.03.2025, 09:57
SDA
In the current financial year, an operating result of 1.7 to 1.8 billion euros is to be achieved, the Nike competitor Adidas announced in Herzogenaurach. Currency-adjusted sales are expected to increase by a high single-digit percentage.
In the past financial year, Adidas generated sales of around 23.7 billion euros, eleven percent more than in 2023. The operating result rose to 1.3 billion euros, compared to 268 million euros in 2023. The bottom line was a net profit of 832 million euros from continuing operations, compared to a loss of 58 million euros in the previous year.
The sale of the last "Yeezy" products contributed around 200 million to the operating result and 650 million euros to sales.
Adidas had to part ways with rapper Kanye West after the musician's racist and anti-Semitic comments became known. The product line had previously been highly successful. The abrupt separation in conjunction with other effects caused Adidas to post a net loss for the first time in 30 years in 2023.
