Adidas Faces First Annual Loss in Over Three Decades Amid Yeezy Fallout

Despite challenges, the sportswear giant projects global growth and continues significant donations to anti-hate groups.

Adidas reports a net loss for the first time in over 30 years, largely due to the fallout from ending its partnership with Kanye West and the Yeezy brand.
The company sold off a significant portion of its Yeezy inventory in 2023, contributing to a decline in sales but also generating donations to anti-hate groups.
Adidas expects a sales decline in North America in 2024 but projects mid-single-digit growth worldwide, despite ongoing challenges.
The sportswear giant remains optimistic about its future, forecasting improved sales and operating profit in 2024, supported by popular shoe lines and major sports events.
Adidas has donated or plans to donate over $150 million to groups fighting antisemitism and other forms of hate from the sales of Yeezy shoes.