HERZOGENAURACH, Germany -Adidas will slash its 2022 dividend, the sporstwear maker mentioned on Wednesday, warning a cut up with rapper and designer Kanye West might push it to its first annual loss in three many years this yr.
Chief government Bjorn Gulden, who took the reins on Jan. 1, pledged to rebuild the bruised model after coping with the fallout from ending Adidas’ partnership with West, which yielded the profitable Yeezy sneaker line.
Adidas has not mentioned how a lot the Yeezy model has made since its first take care of West on the finish of 2013, however analysts estimate Yeezy accounted for as a lot as 7 p.c of whole gross sales in its greatest years.
The firm must refocus on its c…
Keep on studying: Adidas to slash dividend after Kanye West cut up