Adidas takes small step forward, mulls Yeezy optionsBloombergAdidas AG has yet to decide on what to do with its mountain of unsold Yeezy sneakers, but new CEO Bjorn Gulden said its turnaround is nonetheless off to a good start. Adidas reported sales of 5.3 billion euros in the first quarter of this year, about in line with a year earlier and ahead of analysts’ estimates. Yeezy shoes are pictured at a second-hand sneaker store in Paramus, New Jersey, on Oct. 25 last year. That would require more markdowns to reduce the 5.7 billion euros inventory of unsold sneakers and apparel. Adidas is still reviewing its options for the 1.2 billion euro pile of unsold Yeezy merchandise stemming from the canceled collaboration with rapper and designer Ye, formerly known as Kanye West.

Source: Taipei Times May 06, 2023 00:34 UTC