Adidas Narrows Losses Thanks to Leftover Yeezy Inventory — Retail Bum
<p><a href="https://rstyle.me/+3CHk6u8rqNrozg3BRuWPrQ" rel="noopener ugc nofollow" target="_blank">Adidas</a> has revised its guidance for 2023 as the initial sale of its leftover Yeezy inventory is expected to narrow its operating loss to $499 million from its previous estimate of $775 million.</p>
<p>The company <a href="https://www.aljazeera.com/economy/2023/7/24/adidas-gets-565m-in-orders-for-unsold-yeezy-shoes" rel="noopener ugc nofollow" target="_blank">revealed</a> that it has received $565 million worth of orders from releasing four million pairs of Yeezy shoes. Its projections could further improve based on future sales of the remaining inventory, even though it plans to <a href="https://retailbum.com/2023/fashion/adidas-to-donate-proceeds-from-sale-of-yeezy-stock-to-charity/" rel="noopener ugc nofollow" target="_blank">donate a significant share</a> of its sales to organizations that work to end hate speech and discrimination.</p>
<p>The news comes two months after the German sportswear giant <a href="https://retailbum.com/?s=adidas" rel="noopener ugc nofollow" target="_blank">began selling</a> the remaining Yeezy shoes leftover from its defunct partnership with rapper Ye, formerly Kanye West.</p>
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