The second financial quarter, according to the adidas report, was better than expected for the brand. From April to June adidas earned 5.340 million euros. Last year, sales for the same period amounted to a similar amount: 5.6 billion euros. However, the stock sales of Yeezy shoes played a big part in this. WWD writes about it.
The company’s CEO, Bjorn Gulden, said he was pleased with the way the second quarter went for the brand. He added that he doesn’t expect to see big profits from adidas until 2025, as the breakup with Kanye West hit the sports brand hard.
However, the company’s management does not plan to establish relations with the rapper. “Our task now is to limit the damage, sell the remaining Yeezy models and stop doing business with them,” Gulden said.
Recall that in May of this year, Gulden said that due to the break in relations with Kanye West, total adidas sales fell by $441 million.