Adidas Rises After Boosting Guidance Again on Yeezy Sales
- Sneaker maker now sees annual operating loss of €100 million
- Third-quarter sales narrowly exceed analysts’ estimates
The German sports company now expects to report an operating loss of about €100 million ($106 million) in 2023, it said in a statement.
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Adidas AG shares rose after the company boosted its guidance for a second time in three months, helped by sales of more Yeezy sneakers from its canceled partnership with the rapper Ye and better demand for other models.
The company now expects an operating loss of about €100 million ($106 million) in 2023, it said Tuesday. That’s better than the €450 million loss Adidas forecast in July, and much improved from its initial warning of a possible €700 million shortfall if it had to write off all Yeezy inventory.