FRANKFURT, Germany (AFP) – German sportswear giant Adidas reported an annual loss for 2023 on Wednesday, still weighed down by the fallout from the end of its tie-up with controversial rapper Kanye West.
The loss of EUR75 million (USD82 million) followed a profit of EUR612 million the previous year. Sales fell by five percent to EUR21.4 billion, and were hit particularly hard in the United States due to the discontinuation of sales of Yeezy trainers that were designed with West.
