Adidas posted its first loss in over 30 years in 2023, following a split with Kanye West
CEO Bjorn Gulden resumed Yeezy sneaker sales to clear stock, boosting Adidas' shares. Despite a net loss of 58 million euros, the brand expects its underlying business to improve in 2024.
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Adidas plans to propose a dividend of 0.70 euros per share for 2023. The brand anticipates sales growth in all markets except North America, which is still overstocked.
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Adidas will continue selling Yeezy products but expects lower demand compared to last year. The brand's latest drop launched on Feb. 26, with unpredictable demand levels.
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The brand aims to regain market share from Nike, capitalising on trends like low-rise suede sneakers. Despite a decline in sportswear demand, Adidas has seen positive brand.