Adidas predicts 2024 leap in operating profit after Kanye West break-up


Corrects paragraph 3 to show the 100 million euro forecast figure was a loss, not profit

MUNICH, Jan 31 (Reuters) - German sportswear maker Adidas ADSGn.DE expects operating profit to nearly double to about 500 million euros ($542.3 million) this year after the company's break-up with Kanye West and the discontinuation of its Yeezy business.

Adidas booked an operating profit of 268 million euros in 2023, down from 669 million euros a year earlier, according to an unscheduled preliminary earnings announcement.

That beat the 100 million euro loss previously forecast for 2023 by CEO Bjorn Gulden.

($1 = 0.9220 euros)

(Reporting by Alexander Huebner Writing by Tom Sims Editing by David Goodman)

((; +49 30 220 133 645;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.