Overview

• Adidas now projects a 2024 operating profit of $745 million, up from an earlier forecast of $532 million, following a successful first quarter.
• The latest Yeezy drops contributed significantly to the revenue, with recent sales generating $159 million.
• Despite ending its partnership with Ye, Adidas continues to benefit from selling off remaining Yeezy stock, expecting further sales of $213 million.
• The company also reports a surge in demand for classic sneakers such as the Samba, enhancing its market position.
• Shares of Adidas surged following the announcement, reflecting investor confidence in the company's revised forecasts.