[ICYMI] Adidas posts loss as Kanye West split 'hurts' business
Adidas's new CEO Bjorn Gulden says time is needed to turn the company aroundBERLIN - German sportswear giant Adidas reported Friday a hefty first-quarter loss, acknowledging its split from controversial US rapper Kanye West was"hurting" its bottom line.The company booked a net loss of 39 million euros from January to March, compared to a profit of 482 million euros in the period a year earlier.
Adidas halted its tie-up with West -- now known as Ye -- in October after he made a series of anti-Semitic outbursts. "2023 will be a bumpy year with disappointing numbers, where maximising our short-term financial results is not our goal," he said.
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