Adidas is set to update investors Friday about the unsold Yeezy shoes that have put the German sportswear giant in a predicament since it cut ties with Kanye West over his antisemitic comments late last year.
Executives are expected to tackle the issue when the company reports first-quarter results Friday which will likely show a 4% decline in net sales to $5.07 billion, according to a company-compiled consensus.
Investors have high hopes new CEO Bjorn Gulden can turn Adidas around: the stock has gained around 65% since Nov. 4 when the former Puma CEO was first floated as a successor to Kasper details ⇒
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