adidas: revises 2022 targets due to dumping Yeezy

(CercleFinance.com) - On Wednesday adidas announced that the recent termination of its partnership with Yeezy, the brand owned by Kanye West, had forced it to revise its targets for FY 2022.


The sports equipment manufacturer is now expecting sales growth of between 0% and 5% this year, excluding exchange rate effects, for a net profit forecast of around 250 million euros.

adidas justifies its new targets by the end of its commercial partnership with the Yeezy brand, whose sales were strongly concentrated on the end of the year.

The group, which is also unveiling its full Q3 results on Wednesday, reported earnings of 66 million euros, a fraction of the 479 million euros posted a year ago.

Excluding FX effects, Q3 sales were up 4%.



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