Adidas Says Discontinuation Of Yeezy Business Had Negative Effect On Top-Line Development During Year; Represented Drag Of Around €500M YoY
Portfolio Pulse from Benzinga Newsdesk
Adidas has reported that the discontinuation of its Yeezy business line has negatively impacted its top-line development over the year, with a significant drag of approximately €500 million year-over-year.
January 31, 2024 | 5:37 pm
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Adidas' decision to discontinue the Yeezy business line has led to a substantial €500 million year-over-year decline in revenue.
The discontinuation of the Yeezy line, which has been a significant revenue driver for Adidas, is expected to have a negative impact on the company's financial performance. This substantial revenue drop is likely to be viewed unfavorably by investors, potentially leading to a decrease in stock price in the short term.
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