adidas AG

adidas AG engages in the design, distribution, and marketing of athletic and sporting lifestyle products. It operates through the following geographical segments: EMEA, North America, Greater China, Asia-Pacific, Latin America, and Other Businesses. The Other Businesses segment includes the activities of the Y-3 label and other subordinated businesses. The company was founded by Adolf Dassler in 1920 and is headquartered in Herzogenaurach, Germany.

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Adidas said it made $437 million from the first sales of Yeezy shoes since cutting ties with Kayne West.  Some of the proceeds will be donated to groups fighting antisemitism, the company said.

Adidas plans to keep 'carefully' moving more Yeezy stock after making $437 million from its first post-Kanye West sale

adidas AG (OTCQX:ADDYY) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET Company Participants Sebastian Steffen – Head-Investor Relations Bjorn Gulden – Chief Executive Officer Harm Ohlmeyer – Chief Financial Officer Conference Call Participants Warwick Okines – BNP Zuzanna Pusz – UBS Graham Renwick – Berenberg Jurgen Kolb – Kepler Cheuvreux Edouard Aubin – Morgan Stanley Aneesha Sherman – Bernstein Simon Irwin – Credit Suisse Thomas Chauvet – Citi Piral Dadhania – RBC Operator Good afternoon, ladies and gentlemen. Thank you for standing by.

adidas AG (ADDYY) Q2 2023 Earnings Call Transcript

The first sale of Yeezy inventory brought in $437 million for Adidas. It has been working to sell the apparel it has from its former partnership with Kanye West.

Adidas brings in $437M from Yeezy inventory sale

The first batch of shoes released in June, which sold out, helped the company reach an operating profit of $193 million in the second quarter, Adidas said Thursday.

Adidas brings in $437M from Yeezy sneaker sales, boosting Q2

Adidas sold €400m (£345m) worth of Kanye West-designed footwear from April to the end of June this year - as much as the same time last year, despite severing ties with the rapper.

Yeezy sales back to old levels - despite Adidas severing ties with Kanye West

adidas AG (OTCQX:ADDYY), the clothing giant, is dropping more Yeezy products in August, as the group continue to manage the damage from its failed partnership with controversial rapper Kanye West. Terminating the rapper's contract last October, Adidas initially said it would be taking a €250 million hit in its fourth quarter after being left with a horde of inventory, the potential write-down figure even reached estimates of €500 million during 2023.

Adidas and life after Kayne; the world of celebrity endorsements

Adidas upgraded its earnings outlook for the year Thursday, in part because of demand for the company's remaining stock of its discontinued Yeezy merchandise.

Yeezy stock sales improve outlook for Adidas

Earlier this year, the company said it will sell off its remaining Yeezy inventory after cutting ties with Kanye West last year.

Adidas Sold $437 Million Worth Of Yeezys In Second Quarter Of 2023

Manchester United

Adidas will continue to make the famed soccer club's uniforms through 2035.

Manchester United inks record $1.1 billion Adidas apparel deal

Manchester United will extend their jersey kit-supplier partnership with Adidas for another decade in a $1.

Adidas Signs Premier League-Record $1.15 Billion Manchester United Sponsorship With Increased Focus On Women's Team

Manchester United and Adidas are extending its their apparel-sponsorship contract in a colossal $1.2 billion deal that lasts for another decade.

Adidas signs $1.2 billion partnership with Manchester United

Manchester United Plc (NYSE:MANU) has signed a new 10-year extension to its kit and apparel deal with Adidas on improved terms. The football club, in a brief statement, told investors that the new deal would run until June 2035 and has a minimum cash guarantee of £900 million (£90 million per year).

Manchester United stock falls despite “record breaking” Adidas kit deal

U.K. soccer club Manchester United MANU said it's extending its apparel relationship with Adidas XE:ADS. The deal will last an additional 10 years, running through June 2035, and a has minimum cash guarantee of £900 million ($1.16 billion), the club said.

Manchester United extends Adidas deal in pact worth $1.2 billion

More of the outstanding Yeezy inventory that Adidas is looking to part ways with will soon go on sale. The company said Friday it would put Yeezy products up for purchase in early August.

Adidas will sell more outstanding Yeezy inventory

Adidas is to sell another batch of its Yeezy trainer line with some of its profits heading to charity, but has remained silent on how much money will be donated.

Adidas to donate profits on Yeezy trainer sales to charity - but won't reveal amount

The online sale willstart Wednesday through Adidas smartphone apps and its website.

Adidas to release second batch of Yeezy sneakers after breakup with Kanye West

Adidas is releasing a second wave of Yeezy shoes into the market as it moves to clear out the inventory of its defunct collaboration with Ye, formerly known as Kanye West.

Adidas clearing out more Yeezy shoes in second wave

The sportswear company is disentangling itself from Kanye West.

Adidas to Release Second Batch of Unsold Yeezy Shoes

Sportswear firm says first release of unsold stock helped reduced its expected annual losses by €250m

Adidas to sell second batch of Yeezy trainers after breakup with Kanye West

Adidas plans Yeezy's second phase of stock sales after making $565 million from its first leftover sales in May.

Adidas Plans Further Sale Of Yeezy Inventory In August

Apple

Anheuser-Busch InBev

Soccer is the world's most popular sport. 3 companies are set to benefit from Lionel Messi's move to Miami.

Messi to Miami (3 Stocks to Benefit)

Adidas said it now expects to incur a significantly smaller full-year operating loss after making more than half a billion dollars in early sales of its Yeezy stock. The German sportswear giant trimmed its operating loss forecast to €450mln from €700mln after selling US$565mln worth of Yeezy shoes which were part of rapper Kanye West's clothing range with the company.

Adidas revises operating loss guidance after Yeezy sales

Adidas' (ADDYY) stocks rise as it is able to sell massive volumes of its discontinued yet profitable Yeezy product line.

Adidas (ADDYY) Gains on Orders for Defunct Yeezy Inventory

Initial sales of Yeezy stock following the termination of Adidas' partnership with rapper Ye have led it to cut its loss forecast to €450 million, from €700 million.

Adidas up 6% after trimming 2023 loss forecast on strong Yeezy inventory sales

Strong sales of leftover Yeezy inventory is helping Adidas recoup some of its losses.

News for adidas AG Stock (ADDYY)