General World News

As Sales Decline, Adidas Faces Pressure to Find Yeezy Fix

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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