Adidas to take hit after ending Yeezy deal with Ye
November 9, 2022
Adidas cut its full-year guidance following its decision to end its partnership with Ye in response to the rapper and entrepreneur’s series of antisemitic remarks. The athletic wear maker now expects revenues in the low single-digits for the year and lower gross margins based on “higher supply chain costs, higher discounting, and an unfavorable market mix.”
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