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☆ Adidas’ retro-inspired shoes are flying off shelves
▼ + stars: | 2024-04-30 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Adidas’ Samba and Gazelle sneakers might look like they’re from another decade, but they’re the hottest shoes on sale right now. Buoyed by the strength of those shoes, plus higher demand for its running, basketball and soccer shoes, Adidas registered a net profit of about $182 million through the first three months of 2024 — a sharp reversal from the same time period last year when it reported a $26 million loss. In particular, sales in Europe soared 14%, and Adidas also had strong demand for its products in China and Latin America. “The markets are still volatile and not easy, but we feel we are making progress everywhere,” said Adidas CEO Bjørn Gulden in a release. Last year, Adidas slumped to a rare annual loss, hit by the fallout from its costly break-up with rapper Ye, sluggish sales in North America and a huge tax bill.

Persons: Ye, ”, Bjørn Gulden, “ Organizations: New, New York CNN, Adidas, ’, Copa America, Rival Nike, German, soccer teams Locations: New York, German, Europe, China, Latin America, North America

☆ San Quentin State Prison: Running provides a new lease of life for inmates
▼ + stars: | 2024-04-08 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +8 min

Set up in 2005, San Quentin’s running club meets regularly and is run entirely by volunteer coaches from Marin County’s Tamalpa Running Club, who come from outside the facility to share their expertize and time with aspiring runners in the prison. For the most part, it’s poverty mixed with a lack of opportunity,” Thomas tells CNN Sport. “It hurt me inside because he was more like a mentor to me,” Taylor tells CNN Sport. That helped me in my recovery and transformation in my life,” Taylor, known as “Markelle the Gazelle” because of his athletic prowess, explains. “But there’s two million people in prison,” Thomas adds.

Persons: Rahsaan Thomas wasn’t, Thomas, “, ”, , Johnny Cash, Marin County’s, ” Thomas, you’re, Thomas ’, Christine Yoo, Diana Fitzpatrick, ” Fitzpatrick, Jim Maloney, Maloney, Markelle Taylor, Kevin Rumon, we’re, ” Taylor, Taylor, Gavin Newsom, podcaster Organizations: CNN, San, Prison, CNN Sport, ESPN, Initiative, Black, Federal Bureau of Prisons ., San Quentin Marathon, Boston Marathon, New York City Marathon Locations: San Quentin, Quentin’s, White

☆ Meet the man trying to save Adidas — but he'd rather be playing football for Germany
▼ + stars: | 2024-03-17 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +3 min

CEO Bjørn Gulden was appointed as the company was reeling after the end of its Yeezy collection. Gulden, a former athlete, refocused on Adidas' classic Samba sneaker, popular with Gen Z. AdvertisementGulden began his career playing soccer for national leagues in Germany and Norway before an injury forced him to retire. Gulden has successfully ramped up production of Adidas' Samba and Gazelle sneakers. "We currently have maybe the hottest shoe in the market … and it's the Adidas Samba," Gulden said on an earnings call last year.

Persons: Bjørn Gulden, Z, —, Ye, didn't, Manuel, Manuel Neuer, Gulden, Rihanna, Jay Organizations: Adidas, Service, Kanye West, FT, German, Puma, Defamation, Business, Street Journal Locations: Germany, Norway

☆ Yeezy fiasco helps push Adidas into loss as US sales continue to fall
▼ + stars: | 2024-03-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

“Going forward, the company expects the tax rate to normalize again as its operating profit improves,” Adidas said in a statement. Sales in North America — the company’s second-biggest market — declined more than 16% in 2023, partly because Adidas slashed sales to wholesalers in order to reduce their high levels of inventory. The company expects its sales in the region to fall again this year, by around 5%. Globally, sales of Adidas footwear, which includes popular Samba and Gazelle sneakers, were up 4%, in contrast with a 6% fall for Adidas apparel. On a different measure of earnings, the company recorded an operating profit of €268 million ($293 million) last year.

Persons: Ye, Harm Ohlmeyer, “, ” Adidas, Bjørn Gulden, Olesya Dmitracova Organizations: London CNN, Adidas Locations: North America, China

☆ Gen Z doesn't know how to dress for work. Here are 5 fashion tips to elevate your workwear, according to stylists.
▼ + stars: | 2024-02-10 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +8 min

We chatted to two corporate stylists to find out how the younger gens can elevate their work style:1. You should be covered 'from nips to knees'Maree Ellard styled in a corporate outfit. Invest in some great work shoesIt's time to put aside those casual Nike Air Force 1 sneakers and invest in more stylish work shoes, Teich says. Play around with accessories, details, and colorMaree Ellard styled in a corporate outfit. Keep the designer logos to a minimumMaree Ellard styled in a corporate outfit.

Persons: —, Zers, Ryan Vogel, they're, Maree Ellard, Maree, Ellard, Liz Teich, Teich, It's, Kate Hart Finnigan, Adidas Stan Smiths, it's Organizations: Service, Business, Fox School of Business, Temple University, eBay, Invest, Nike Air Force, Adidas Locations: Australia, New York, Zara

☆ Puka Nacua: From breaking records to LeBron James shoutouts, the ‘special’ rookie wide receiver
▼ + stars: | 2023-11-16 | by ( Manav Tanneeru | Ben Morse | ) edition.cnn.com time to read: +12 min

Nacua’s jersey has been placed in football’s shrine to all things great and good because of the historic beginning to his rookie NFL season. An already high-ceiling group, which included Cooper Kupp – the NFL’s receptions, receiving yards and touchdowns leader in 2021 – was searching for additional explosiveness. It couldn’t be any better,” Nacau told reporters after the Rams’ Week 1 victory in Seattle against the Seahawks. Over the next five weeks of the season, Nacua compiled 326 receiving yards off 25 catches and a touchdown. Nacua has 293 more receiving yards than the next rookie in the league, Jordan Addison.

Persons: –, Puka Nacua, Jaylen Waddle, Michael Owens, University of Washington –, Fesi Sitake, “, he’s, ” Sitake, Nacau, Sitake, ” –, Jaren Hall –, Minnesota Vikings – Nacua, Nacua, ” Nacua, Tyler Ingham, Puka, wasn’t, ‘, Cooper Kupp, Kupp, Sean McVay, ” Nacau, Earl Cooper, Odell Beckham Jr, Gary A, Vasquez, McVay, McVay effusively, it’s, ” McVay, Eric Yarber, Cooper, Atwell, Jefferson, Matthew, Stafford, Justin Casterline, Hallie Aiono, LeBron James, Jordan Addison, Harry, “ It’s, ” Organizations: CNN, Super Bowl, NFL, Pro Football Hall of Fame, Los Angeles Rams, Rams, Philadelphia Eagles, SoFi, Brigham Young University, BYU, University of Washington, CNN Sport, Clydesdale, Minnesota Vikings, Cougars, Boise State, Boise State Broncos, ”, Kupp, Seahawks, USA, Sports, Reuters Rams, San Francisco 49ers, “, that’s, Indianapolis Colts, Nacua, Colts, Dallas Mavericks Locations: Canton , Ohio, Utah, Nacua, Clydesdale, Scotland, Eastern Washington, Seattle

☆ Adidas sees Samba shoes driving more interest from retailers
▼ + stars: | 2023-11-08 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Inventory levels were down 23% year-on-year at 4.85 billion euros ($5.18 billion), a little more than expected, Adidas said. Adidas' gross margin for the quarter was up 0.2 percentage points at 49.3%, helped by reduced freight costs and fewer discounts. "Adidas' competitive position compared to Nike is improving," said Robert Schramm-Fuchs, portfolio manager at Janus Henderson, which holds Adidas shares. "Adidas needs to earn back the shelf space, but I think they have the right product to do it," he said. Adidas' sales in Greater China grew by 5.7% in currency-adjusted terms, a slowdown after growth of 16.4% in the second quarter.

Persons: Tingshu Wang, Bjorn Gulden, Kanye West, Ye, Spezial, Gulden, Robert Schramm, Fuchs, Janus Henderson, Schramm, Adam Cochrane, Miranda Murray, Helen Reid, Maria Sheahan, Sherry Jacob, Phillips, Catherine Evans Organizations: Adidas, REUTERS, Apparel, Nike, Deutsche Bank . Currency, Reuters Graphics, Thomson Locations: Beijing, China, United States, North America, Greater China, Berlin

[1/5] European Commission President Ursula von der Leyen attends the informal meeting of European heads of state or government, in Granada, Spain October 6, 2023. On Thursday night, Von der Leyen was visiting Granada's famed Alhambra Palace and fortress - built by the city's Muslim rulers in the 13th century - when she complemented guide Sumaya Abdelbi on her silk scarf. Abdelbi, who was born in Germany and is of Moroccan origin, briefed Von de Leyen and her husband on the palace. "I told her that she was now also part of the history of the Alhambra and she was very impressed," Abdelbi told Reuters. As Von der Leyen was leaving the event, Abdelbi saw her again and shouted: "I want to give you my scarf!".

Persons: Ursula von der Leyen, Juan Medina, Ursula Von der Leyen, Von der Leyen, Granada's, Von de Leyen, Abdelbi, Belén Carreño, Andrei Khalip Organizations: European, REUTERS, Rights, European Union, Alhambra, Reuters, EU, Thomson Locations: Granada, Spain, Rights GRANADA, Spanish, Alhambra, Germany

☆ Moscow has been surrounded by air defenses for a century, but they were never designed to stop the drones Ukraine is using now
▼ + stars: | 2023-09-17 | by ( David Hambling | ) www.businessinsider.com time to read: +11 min

In recent months, Moscow has seen high-profile drone attacks thought to be launched by Ukraine. Moscow has had air defenses for a century, but they haven't been designed for what Ukraine is doing. This is actually the inner defensive ring: The A135 system originally had an outer ring of 51T6 Gorgon missiles with megaton-class warheads. STR/NurPhoto via Getty ImagesAs far back as this January, Russian planners realized that Moscow was wide open to drone attacks. AP PhotoThe first drones hit Moscow in May, with waves of subsequent attacks continuing through July, August and September.

Persons: Yuriy Shipilov, Sefa, David Hambling Organizations: Ukraine, Service, UK's Ministry of Defense, Central Press, Kremlin, Ballistic, US Safeguard, Sprint, Spartan, Anadolu Agency, Getty, 1st Air Defense Army, National Security, Russian Federation, Aerospace Defense, Ministry of Defense, SA, Defense Ministry, Arsenal, Fatherland, Moscow Investigators, AP, Aviation, Forbes, The, New, Popular Mechanics, WIRED Locations: Moscow, Ukraine, Wall, Silicon, Filatov Lug, Lug, American, North Dakota, Soviet, Crimea, Syria, Libya, Russian, London

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Aug 25 (Reuters) - A U.S. envoy for Iran met on Friday with the family of Iranian-German national Jamshid Sharmahd, who was sentenced to death in February in Iran after being convicted of heading a pro-monarchist group accused of a deadly 2008 bombing. loading"I welcomed the opportunity to meet with Jamshid Sharmahd’s family today. He should have never been detained in Iran, and we hope to see the day he is reunited with his loved ones," Paley wrote. Responding to the post, Gazelle Sharmahd said she had told Paley she needed "actions" and that her father must be part of whatever is agreed to free U.S. nationals. Iran's intelligence ministry at the time described him as "the ringleader of the terrorist Tondar group, who directed armed and terrorist acts in Iran from America."

Persons: Dado Ruvic, Jamshid Sharmahd, Abram Paley, Sharmahd's, Shayan, Gazelle, Jamshid Sharmahd’s, Paley, Gazelle Sharmahd, Sharmahd, X, Eric Beech, Jasper Ward, William Mallard Organizations: REUTERS, Rights, Biden Administration, Thomson Locations: U.S, Iran, German, America, Los Angeles, Assembly, Jasper

☆ Jamshid Sharmahd: US envoy meets family of German-Iranian sentenced to death in Iran
▼ + stars: | 2023-08-26 | by ( Alex Stambaugh | ) edition.cnn.com time to read: +2 min

CNN —A US envoy for Iran met on Friday with the family of Iranian-German national Jamshid Sharmahd, who has been imprisoned and sentenced to death in Iran. He was sentenced to death last February for “corruption on Earth”, which sparked widespread condemnation from human rights groups and Western governments. Iranian-German national and US resident Jamshid Sharmahd attends his trial at the Revolutionary Court in Tehran on Feb. 6, 2022. Koosha Mahshid Falahi/Mizan News Agency/APIn a statement following the decision, the European Union said Iranian authorities denied consular access to Sharmahd, despite his German nationality. In response to Paley’s statement, Gazelle Sharmahd urged the US government to help free her father.

Persons: Jamshid Sharmahd, “, Jamshid Sharmahd’s, Abram Paley, Sharmahd’s, Shayan, Gazelle, ”, Koosha Mahshid, Vedant Patel, Gazelle Sharmahd Organizations: CNN, Amnesty International, Iranian, European Union, Revolutionary, Mizan News Agency, AP, US State Department, State, Biden Administration Locations: Iran, German, Shiraz, Western, United States, Tehran

☆ Adidas turnaround gathers pace as Yeezy boosts margins
▼ + stars: | 2023-08-03 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +4 min

Adidas has to manage Yeezy drops very carefully, Gulden said, adding that the company's guidance was conservative. Adidas' 2023 outlook does not include the second Yeezy release, which is being sold through retailers as well as Adidas' own channels. JD Sports (JD.L) said it had started selling Yeezy shoes from the second drop on Wednesday. Citi analysts expect further Yeezy drops to generate 1.5 billion euros ($1.64 billion) in revenues and 700 million euros in earnings after Adidas' planned charity donations. Adidas donated 10 million euros in the second quarter and set aside 100 million euros for further donations to charities including the Foundation to Combat Antisemitism and the Anti-Defamation League.

Persons: Bjorn Gulden's, Ye, Gulden, Harm Ohlmeyer, Kanye West, Shannon Stapleton, Zuzanna Pusz, Pusz, Liu Qingyi, Shuting Qiu, Helen Reid, Mark Potter, Jan Harvey, Alistair Bell Organizations: FX, Adidas, JD, Citi, Foundation, Combat, Defamation League, ADIDAS, REUTERS, UBS, North, Thomson Locations: Garden City , New York, U.S, Greater China, China, Shanghai, North America

☆ Can a Poem Be Too Short? It Depends on the Poem, and the Reader.
▼ + stars: | 2023-07-18 | by ( Elisa Gabbert | ) www.nytimes.com time to read: +4 min

I have a friend who says her favorite way to read poetry is in quotation, as isolated lines in paragraphs of prose, such as in this column. You can’t have a personal, favorite part, the way I have a favorite part of “Prufrock” (which changes over time). Some of what’s in “Little Poems” does have a one-and-done feel. Short poems can be facile because they are short — they’re not wasting much of your time, so get over it. It’s unsatisfying in the way of all short unsatisfying poems; the end of any poem is a reward, but bad short poems satisfy too soon.

Persons: Michael Hennessy, Julian the, John Keats, ” Ben Lerner, “ Prufrock, Shel Silverstein, Lawrence, Lawrence — Locations: Sappho, “, D.H

☆ Retailers battle for uncertain back-to-school demand after ‘volatile’ quarter
▼ + stars: | 2023-06-06 | by ( Katherine Masters | ) www.reuters.com time to read: +5 min

[1/2] Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. U.S. shoppers' spending in the summer ahead of the college and K-12 school year has grown steadily since 2015, according to the National Retail Federation, a trade group. The chain is stocking Adidas' Samba and Gazelle sneakers ahead of the new school year, it said. The challenge for retailers is predicting whether parents will buy less clothing and sneakers when the cost of necessities - such as pencils, notebooks and laptops - strains many households. Retailers face a "volatile time," said Jessica Ramirez, a senior research analyst at Jane Hali & Associates.

Persons: Dado Ruvic, Locker, Spencer, hasn't, Ralph Lauren, Nordstrom, Doug McMillon, John David Rainey, Jessica Ramirez, Jane Hali, Moody’s, Moody's, Maxx, Martin Waters, Fran Horowitz, Jennifer Foyle, Abercrombie’s Hollister, URBN, Katherine Masters, Siddharth Cavale, James Davey, Gerry Doyle Organizations: Walmart, REUTERS, National Retail Federation, Ulta, Adidas, U.S . Commerce Department, Associates, Target, Moody's Victoria’s, Abercrombie & Fitch, Urban Outfitters, Abercrombie, Fitch, Free People, Thomson Locations: Britain, U.S, North America, New York, Bentonville , Arkansas, London

☆ Adidas runs harder, but also stands still
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +2 min

That beat analyst expectations of 15 million euros, and was aided by double digit sales growth in Latin America and Asia. The good cheer partly reflects the low expectations of Adidas’s investors. They hold shares worth about half their mid-2021 level, and while sales globally didn’t fall 4% as forecast, they still dipped 1% year-on-year. Meanwhile, CEO Bjorn Gulden has to decide what to do with stacks of Yeezy trainers in storage ever since the company severed ties with the musician. Although certain products like Gazelle and Sambo are doing well, the 40% margins on Yeezy sales were ten times Adidas’s overall level.

☆ Adidas expects bumpy year despite sales beating forecast
▼ + stars: | 2023-05-05 | by ( Helen Reid | ) www.reuters.com time to read: +2 min

REUTERS/Shannon StapletonLONDON, May 5 (Reuters) - Adidas (ADSGn.DE) on Friday forecast "a bumpy year with disappointing numbers" ahead after a dip in first quarter sales for the German sportswear giant. Despite the 1% sales drop, operating profit of 60 million euros ($66 million) beat analyst expectations of 15 million euros for the company, which last year ended a partnership with Ye, the rapper formerly known as Kanye West. Losing the highly profitable Yeezy line hit sales in the quarter by around 400 million euros, Adidas said, mainly hitting revenue across North America, Greater China and EMEA. Sales were 5.274 billion euros, down from 5.302 billion euros in the first quarter of 2022. Adidas' gross margin fell to 44.8% due to the loss of Yeezy sales, higher supply chain costs and discounts.

☆ Adidas shares gain on earnings but CEO warns of ‘bumpy year’ after end of Yeezy deal
▼ + stars: | 2023-05-05 | by ( ) edition.cnn.com time to read: +2 min

Losing the highly profitable Yeezy line hit sales in the quarter by around 400 million euros ($441 million), Adidas said, mainly denting revenue across North America, Greater China and Europe, Middle East and Africa. CEO Bjorn Gulden told reporters Adidas has narrowed down the options for the shoes, and it is getting closer to a decision. Quarterly operating profit of 60 million euros ($66 million) beat analyst expectations of 15 million euros. North America was the worst hit by the loss of Yeezy, with currency-neutral sales down 20% from last year. The “terrace” shoe style is doing well in all markets, and Adidas has started to make more Samba, Gazelle, and Campus shoes, Gulden said.

☆ Adidas quarterly sales beat expectations despite Yeezy crisis
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +1 min

The Yeezy crisis hit sales in the reported quarter by around 400 million euros ($441.56 million), Adidas said, mainly affecting revenue across the North America, Greater China and EMEA regions. North America was the worst hit by the Yeezy debacle, with currency-neutral sales down 20% from last year. Sales in Greater China fell by 9%, while EMEA sales increased 4%. Adidas reported an operating profit of 60 million euros, beating analysts' expectations of 15 million euros. Its gross margin fell to 44.8% due to the loss of Yeezy sales, higher supply chain costs and discounts.

☆ Adidas wants to move on from the Kanye West scandal, but investors are angry and suing
▼ + stars: | 2023-05-01 | by ( Matthew Kish | ) www.businessinsider.com time to read: +2 min

Investors sued Adidas over its failed Kanye West deal, arguing it didn't properly manage the risk. In the lawsuit, investors claimed Adidas "ignored serious issues" with regard to Ye's "extreme behavior," and didn't properly manage the resulting risks, including with inventory. If certified, the lawsuit would proceed on behalf of investors who purchased shares of Adidas between May 3, 2018, and February 21, 2023. In the wake of splitting with Ye, Adidas, under new CEO Bjørn Gulden, is focusing more on sports, including basketball and soccer, as Gulden works to reset the brand. The organization purchased 2,837 shares of Adidas stock in early 2022 for more than $350,000, according to an exhibit attached to the lawsuit.

☆ A year in Azerbaijan: From the Grand Prix to the ski slopes
▼ + stars: | 2023-04-27 | by ( Words Cnn Staff | Photo Illustrations Woojin Lee | ) edition.cnn.com time to read: +18 min

CNN —Anyone who has tuned in to the Azerbaijan Grand Prix has seen a tantalizing glimpse of what the capital Baku has to offer. This year’s Grand Prix comes at the height of spring, often said to be Azerbaijan’s most beautiful season. Juan Vilata/Alamy Stock Photo Explore Azerbaijan in spring Prev NextSummers in Azerbaijan are hot, so getting out of the city is a good idea. Alexander Melnikov/Alamy Stock Photo Explore Azerbaijan in fall Prev NextWrap up, because even at its coldest Azerbaijan still has plenty to offer. You’ll learn much more at the Azerbaijan National Carpet Museum in Baku.

☆ Peering Into Volcanoes at Tanzania’s Crater Highlands
▼ + stars: | 2023-04-17 | by ( Patrick Scott | Photographs | ) www.nytimes.com time to read: +2 min

Cloud shadows darkened sections of the leafless rim and the tan crater floor. A silvery green lake spread out on the left, and a patch of emerald woodlands near a stream stretched out on the right. In the rainy seasons, the expansive floor is lush and teeming with animals, including massive herds of migrating wildebeests. And because nearly all of the inhabitants are herbivores, we saw no chasing and fleeing. Instead, the wildebeests milled about or rested in acacia shade, and the zebras did a lot of standing around, motionless, like they were trying to remember something they’d just forgotten.

☆ Forget Yeezys. Adidas' new CEO says Sambas and Gazelles are the 'hottest shoe in the market'
▼ + stars: | 2023-03-13 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

Adidas Yeezy is gone, but Adidas terrace shoes like the Samba and Gazelle can pick up the slack. "It's something that if we manage it correctly, can be millions and millions of pairs," he said. Adidas Sambas, Gazelles, and Spezial sneakers, what the company calls Terrace shoes, are having a moment. Gulden called Sambas, Gazelles, and Spezials a very fast-growing "franchise" for Adidas. "I think it's something that if we manage it correctly, can be millions and millions of pairs," Gulden told analysts. "

☆ Adidas thinks this 74-year-old shoe can replace Yeezys
▼ + stars: | 2023-03-11 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

☆ Adidas' new CEO came out swinging during his first press conference, calling out Nike's lack of innovation and defending the three stripes
▼ + stars: | 2023-03-09 | by ( Danni Santana | Matthew Kish | ) www.businessinsider.com time to read: +6 min

He stood up for Adidas' performance innovation pipeline while taking a shot at NikeAdidas is always compared to its larger rival Nike. But Gulden took issue with criticisms that Adidas is not innovating enough in its performance business. The Yeezy business is not coming backAdidas has not made a decision on what to do with its stockpile of Yeezys. Given Lorenzo's popularity, the underperformance of the Ivy Park line, and the end of Adidas' Yeezy business, Lorenzo could give the company a needed spark. Gulden took the stage Wednesday in front of a backdrop that featured Jesse Owens and Muhammad Ali, two sports icons and former Adidas athletes.

Gulden said Adidas was still deciding what to do with its stock of unsold Yeezy footwear. One option could be for Adidas to donate proceeds from the sale of repurposed Yeezy stock to charity, Gulden said. REUTERS/Shannon Stapleton 1 2 3The split cost Adidas 600 million euros ($632 million) in sales in the fourth quarter of 2022, and Yeezy shoes would have brought in an estimated $1.2 billion in revenue this year. Inventories came in at just under 6 billion euros at the end of December, up 49% from the previous year, including 400 million euros of Yeezy products. That, along with $200 million of one-off costs, would bring Adidas to a $700 million loss this year.

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