Adidas flagship store entrance in New York City. Adidas announced early financial guidance for 2023 on Thursday. Adidas expects sales to drop by $1.28 billion in 2023 if it doesn’t sell leftover Yeezy inventory. But analysts say the German sportswear company’s issues run deeper than Yeezy. Top editors give you the stories you want — delivered right to your inbox each weekday. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Adidas announced its financial guidance for 2023 earlier than anticipated on Thursday. The company’s guidance began on a bleak note with revenue for the year expected to drop after ending its Yeezy partnership. The company said it expects to see sales drop by €1.2 billion, or about $1.28 billion, and operating profit by €500 million, or about $537 million, if it does not sell its leftover Yeezy inventory. A strategic review of the business by Adidas will cost the company another €200 million. Against this background, Adidas […]
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