Shares in Adidas have gained 34% since the start of the year as investors gain confidence in CEO Bjorn Gulden’s ability to turn the company around after a break-up with Kanye West.
Long Island mom who ran over son’s teen bully acquitted of attempted murder: ‘ Happy with the outcome’
“While the company’s performance in the quarter was again positively impacted by the sale of parts of its remaining Yeezy inventory, the underlying Adidas business also developed better than expected,” the company said. Excluding the cost of ending the lucrative Yeezy shoe range produced in partnership with Ye, Adidas said it now sees an underlying operating profit of 100 million euros, up from break-even previously.since the end of May, helping narrow an expected loss, which was initially forecast as 700 million euros in March.
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