Adidas warns of falling sales in North America as it continues to sell off Yeezy inventory
adidas(ADDYY) CNBC·2024-03-13 15:27
Adidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear brand continues to sell off its remaining Yeezy inventory.Currency-neutral sales in North America are expected to decline to a mid-single-digit rate in 2024, but are projected to notch mid-single-digit growth worldwide despite persistent "macroeconomic challenges and geopolitical tensions," the company said.Adidas confirmed its 2023 operating profit came in at 268 million euros ($292.9 mi ...