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Article Date: July 2023
Word Count: 290

Adidas Raises Guidance on Strong Yeezy Sales


Buoyed by initial sales of Yeezy inventory released in May and better than expected core sales, The Big a’s second quarter revenues were down just 5% on a reported basis, and came in flat year-over-year, constant currency. Operating profit was €176 million ($192 mm), down from €392 million in 2022, helped by 60 basis points of gross margin expansion to 50.9% doubtless helped by the high margin Yeezys. The promising early sales also reduced the potential write-off of unsold Yeezy inventory to €400 million from €500 million previously. Adidas touted the ... Log in to view full article.

 


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