Dow Jones Newswires: Adidas reports slightly better sales, but still expects loss from Yeezy writedown

by | May 5, 2023 | Stock Market

Adidas XE:ADS is still looking at options for leftover Yeezy stock but continues to expects a major operating loss this year if it writes off the sneakers, it said Friday as it reported first-quarter sales that were a little better than expected. Revenue in North America and Greater China remained negative on year in the first three months of the year, but the group total was flat, organically, at 5.27 billion euros ($5.80 billion). Analysts had expected a tally of EUR5.08 billion, according to a FactSet poll. The…

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