Adidas's Sales of Remaining Yeezy Stock Beat Expectations, FT Reports
24 Luglio 2023 - 9:14AM
Dow Jones News
--Demand for Adidas's Yeezy sneakers topped expectations during
the first online sale of the shoes since the company terminated its
partnership with Kanye West, the Financial Times reports, citing
people familiar with the matter.
--Adidas received orders worth more than 508 million euros
($565.2 million) for Yeezy sneakers as of June 2, decreasing the
risk that the company would have to take a writedown on the
remaining shoe stock, according to the newspaper.
--The company stopped selling Yeezy shoes in October, but
decided to sell some of the outstanding inventory in order to avoid
a further write-off.
Full story: http://bitly.ws/MMeZ
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 24, 2023 02:59 ET (06:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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