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adidas posts narrow loss on Yeezy Grupo Milenio sales

company adidasSports Zapatillas Have Unexpectedly Strong Sales yeezyabandoned brand in association with rapper Kanye West, Thanks to these sales, the sportswear company said it should reduce its projected operating loss for the year from 498 million to 450 million euros, from 498 million to 560 thousand dollars.

The company previously forecast an operating loss of 700 million euros for the full year.

Despite the fact that in the second quarter the group’s revenue fell by 5 percent to 5 thousand 300 million euros, the gross margin of adidas It rose 0.6 percentage points to 50.9 percent, the company said in a preliminary statement ahead of full second-quarter results coming Aug. 3.

Q2 operating profit stood at Rs. 176 million euroscompared to 392 million in the previous year.

“including the positive effect of the first fall yeezy, Cancellation of remaining list is possible yeezy The company now expects to report an operating loss of EUR 450 million in 2023, of the unique costs linked to the strategic review now up to EUR 400 million (previously EUR 500 million) and EUR 200 million (without change), informs adidas in a statement.

“If you’re successful, possible future releases yeezy They will drive the company’s results even better”, the company announced, referring to the term used to bring new products to market.

adidas The rest of its business was reported to be “slightly better than expected” in the second quarter.

PNMO

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