{"id":508206,"date":"2022-11-09T13:12:52","date_gmt":"2022-11-09T10:12:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/adidas-slashes-2022-outlook-after-kanye-west-split\/"},"modified":"2022-11-09T13:12:52","modified_gmt":"2022-11-09T10:12:52","slug":"adidas-slashes-2022-outlook-after-kanye-west-split","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/adidas-slashes-2022-outlook-after-kanye-west-split\/","title":{"rendered":"#Adidas slashes 2022 outlook after Kanye West split"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28797c95c5a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28797c95c5a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/adidas-slashes-2022-outlook-after-kanye-west-split\/#%E2%80%9CAdidas_slashes_2022_outlook_after_Kanye_West_split%E2%80%9D\" >&#8220;Adidas slashes 2022 outlook after Kanye West split&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CAdidas_slashes_2022_outlook_after_Kanye_West_split%E2%80%9D\"><\/span>&#8220;Adidas slashes 2022 outlook after Kanye West split&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>BERLIN \u2013 Adidas\u00a0further slashed its outlook for 2022 on Wednesday as it weighed the impact of its split from Ye, the r<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>er formerly known as Kanye West, while sluggish demand in China continued to impact sales.<\/p>\n<p>Adidas now expects its currency-neutral revenue to grow at a low-single-digit rate in 2022, down from a previously forecast mid-single-digit rate. It expects an operating margin of around 2.5% rather than 4%.<\/p>\n<p>Shares in Adidas fell by 2.8% after the results announcement, with Credit Suisse analysts counting the company\u2019s future challenges as elevated inventory, deteriorating brand momentum, elevated competition in China, long lead-times in sporting goods and the loss of Ye\u2019s Yeezy brand.<\/p>\n<p>These challenges will fall to new chief executive Bjorn Gulden to address. Gulden is set to replace Kasper Rorsted\u00a0from Jan. 1\u00a0after leaving rival Puma.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/GettyImages-543531002.jpg?w=1024\" alt=\"Adidas expects its currency-neutral revenue to grow at a low-single-digit rate in 2022 following their leave from Kanye West's Yeezy brand. \" class=\"wp-image-24585360\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/GettyImages-543531002.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/GettyImages-543531002.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/GettyImages-543531002.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/GettyImages-543531002.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Adidas expects its currency-neutral revenue to grow at a low-single-digit rate in 2022 following their leave from Kanye West\u2019s Yeezy brand. <\/figcaption><figcaption><span class=\"credit\">Jonathan Leibson<\/span><\/figcaption><\/figure>\n<p>Adidas reported a 27% drop in cross-company revenue in the Chinese market in the third quarter, also pointing to persistent challenges there posed by COVID restrictions. It posted net income from continuing operations of 66 million euros, revising down its preliminary figure by almost two-thirds following the end of the Ye partnership.<\/p>\n<p>The termination of the partnership is expected to reduce annual earnings by half, the\u00a0company previously said, with net income from continuing operations of around $252 million now expected this year.<\/p>\n<p>One-off costs are expected to total almost $300 million, mainly linked to Adidas\u2019s exit from Russia as well as negative tax effects related to the split from Ye, the company said, adding that this would be fully compensated by a positive tax effect of similar size in the fourth quarter.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/09\/adidas-slashes-2022-outlook-after-kanye-west-split\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Adidas slashes 2022 outlook after Kanye West split&#8221; BERLIN \u2013 Adidas\u00a0further slashed its outlook for 2022 on Wednesday as it weighed the impact of its split from Ye, the rapper formerly known as Kanye West, while sluggish demand in China continued to impact sales. Adidas now expects its currency-neutral revenue to grow at a low-single-digit&#8230;<\/p>\n","protected":false},"author":1,"featured_media":508207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/newspress-collage-24585285-1667988501149.jpg?quality=75&strip=all&1667970552&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135290,73653,70618],"class_list":["post-508206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-9-22","tag-adidas","tag-kanye-west"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=508206"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508206\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/508207"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=508206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=508206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=508206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}