Adidas Banks On Retro Sambas To Fill $2B Void After Yeezy's Partnership With Ye Falls Apart
Portfolio Pulse from Benzinga Neuro
Adidas (OTC:ADDYY) is banking on its classic Samba sneaker to fill the $2 billion gap left by the dissolution of its Yeezy partnership with Ye, formerly known as Kanye West. The company is increasing production of its retro models, potentially reaching a rate of 15 million pairs a year. Adidas' stock has seen a 30% rise this year, outperforming a 14% drop in Nike's (NYSE:NKE). The company is set to update investors on its financial performance on Nov. 8.
November 01, 2023 | 8:51 am
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Adidas' stock has seen a 30% rise this year, outperforming a 14% drop in Nike's.
The news mentions that Adidas' stock has outperformed Nike's, which has seen a 14% drop this year. This could potentially have a negative impact on Nike's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Adidas is banking on its classic Samba sneaker to fill the $2 billion gap left by the dissolution of its Yeezy partnership. The company is increasing production of its retro models, potentially reaching a rate of 15 million pairs a year.
The news is directly related to Adidas and its strategy to fill the gap left by the dissolution of its Yeezy partnership. The increase in production of its retro models could potentially boost its revenues and profitability, which could have a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100