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Adidas to take hit after ending Yeezy deal with Ye

CNBC 11/09/2022

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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