|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||169.56 - 173.88|
|52 Week Range||90.01 - 199.00|
|Beta (5Y Monthly)||1.05|
|PE Ratio (TTM)||118.71|
|Forward Dividend & Yield||0.76 (0.46%)|
|Ex-Dividend Date||May 12, 2023|
|1y Target Est||N/A|
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Kanye West has a net worth of $400 million as of 2023, according to Forbes. West’s net worth dropped from $2 billion after Adidas and other companies cut ties with the rapper in 2022 after antisemitic comments and offensive behavior.
(Bloomberg) -- The stocks of small athletic shoe brands are poised to keep gaining, beating out their globally-recognized peers, even as the US faces weaker consumer spending and a potential recession, Wall Street analysts say. Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthInside the Making of Redfall, Xbox’s Latest MisfireDebt-Limit Deal Clears Congress, Ending Threat of US DefaultHedge Funds at War for Top Traders Dangle $120 Million PayoutsWall Street Banks
The Yeezy brand is as popular as ever with sneakerheads who are queuing up to buy the last vestiges of the sneaker line.
Part of the proceeds will be donated to anti-hate organizations.
Adidas released the first batch of more than $1 billion worth of Yeezy-branded sneakers, putting in motion the final steps in the agonized, monthslong dissolution of its once-lucrative collaboration with Kanye West.
With increased anger at major publicly traded enterprises going “woke,” blue-chip stocks facing backlash represent a real phenomenon. For example, big-box retailer Target (NYSE:TGT) added to its woes when it succumbed to controversy over its Pride merchandising plans. According to a corporate spokesperson, Target experienced threats, forcing the removal of the most contentious items. Now, Target might be a bad example of top blue-chip stocks to buy amid backlash and boycotts because of other non
The sportswear brand is backing the Chinese government’s sports and cultural projects in a bid to reverse its decline in an increasingly competitive market.
Adidas is the latest company to face criticism over a foray into gender issues. In April, both Bud Light and Nike faced pushback from people who opposed the companies' separate collaborations with transgender influencer Dylan Mulvaney on sponsored social media posts. This week, Adidas announced a collection and campaign for Pride Month 2023, occurring in June.
Adidas said Friday that it will begin selling its more than $1 billion worth of leftover Yeezy sneakers later this month, with the proceeds to be donated to various anti-racism groups. The German sportswear brand said recipients will include the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd. “After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products," said Adidas CEO Bjorn Gulden in a statement.
Adidas confirmed it will start selling Yeezy products by the end of this month.
German sportswear brand says antiracism groups will receive donations after it ended its partnership with rapper Kanye West.
FRANKFURT (Reuters) -Adidas will start selling some of the shoes from its defunct Yeezy partnership with rapper Kanye West at the end of May, the company said on Friday, and plans to donate some of the proceeds to organisations fighting antisemitism and racism. Adidas cut ties with West, who goes by Ye, in October after he made a string of antisemitic comments in interviews and on social media. The German sportswear maker was left with Yeezy shoes worth 1.2 billion euros ($1.3 billion).
Kanye West's Yeezy has been a lucrative part of Adidas' business until it cut ties with him last year, leaving it with way more shoes than it can sell.
The brand lost hundreds of millions of dollars in the seven months since ending its partnership with Ye.
Adidas is to sell off €1bn-worth of Kanye West-designed trainers in a charity fire sale that is likely to spark a frenzy among trainer collectors.
The sportswear brand ended its partnership with Kanye West last year over the rapper’s antisemitic comments, leaving it with more than $1 billion worth of unsold stock.
Adidas will sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organisations, CEO Bjoern Gulden said on Thursday. The German sportswear giant has been in a predicament over the Yeezy stock since it cut ties with West over his anti-Semitic comments late last year, with the controversy weighing on its stock and hitting its bottom line. Millions of Yeezy brand shoes with a retail value of 1.2 billion euros ($1.3 billion) are sitting in storage after their sale was put on hold.
adidas AG (PNK:ADDYY) Q1 2023 Earnings Call Transcript May 5, 2023 Operator: Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome, and thank you for joining the adidas AG Q1 2023 Conference Call. . It’s my pleasure, and I would now like to turn the conference over to Sebastian Steffen, Head of Investor […]
Adidas CEO Bjørn Gulden sees 2023 as a transition year meant to set up the company for growth in 2024 and beyond.
Seven months after cutting ties with the rapper, Adidas is sitting on a $1.3 billion pile of unsold shoes.
Adidas Chief Executive Bjørn Gulden can’t quite hit the ground running yet, but his first move—setting a low bar—is turning out to be a pretty solid strategy for the company’s stock.
The company's first-quarter results were better than expected but management continues to expect a difficult year.
A potential 500 million euro ($551 million) write-off on unsold Yeezy shoes is a headache for Adidas as it looks to implement a global turnaround - but it's not the German sportswear giant's biggest problem. That would be China, the world's second-largest sportswear market, where Adidas saw sales decline 36% in its last fiscal year. First-quarter sales in Greater China fell by 9.4% in currency-neutral terms from the same period last year, Adidas reported on Friday.
It's been nearly seven months since Adidas split with the rapper formerly known as Kanye West, and boxes of his popular Yeezy shoes are still piled up in warehouses. The fate of 1.2 billion euros ($1.3 billion) worth of unsold Yeezy stock is weighing on the German sportswear company as it tries to engineer a turnaround from the loss of the lucrative sneaker line and the continued fallout over its former ties to Ye. Adidas is “getting closer and closer to making a decision” on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said in a conference call Friday after reporting 400 million euros ($441 million) in lost sales at the start of the year.
European shares rose on Friday as the European Central Bank's smaller rate hike as well as market-beating results from Adidas and Apple boost sentiment. The pan-European STOXX 600 index edged up 0.3% by 0715 GMT, but is on track for its second consecutive weekly loss. The ECB raised its benchmark rates by 25 basis points—the smallest increase in its rate-hike cycle that started last summer—lifting the benchmark for borrowing costs to 3.25%.