Adidas suffers first full-year loss since 1992, warns of US sales drops as it sells off Yeezy sneakers

Adidas posted its first annual loss in more than three decades on Wednesday, and warned that US sales will drop this year as the German sportswear giant continues selling off its remaining Yeezy inventory.For 2023, Adidas posted a $63.4 million net loss, its first since 1992, MSN earlier reported. In 2024, currency-neutral sales in North America are expected to decline to a mid-single-digit rate, around 5%, over “macroeconomic challenges and geopolitical tensions,” the company said in its earnings outlook.A ...