© Reuters. FILE PHOTO: Adidas merchandise is seen in an Adidas retailer on the day the German firm terminated its partnership with the American rapper and designer Kanye West, now often known as Ye, in Backyard Metropolis, New York, U.S., October 25, 2022. REUTERS/Shannon Staple
HERZOGENAURACH, GERMANY (Reuters) -German sportswear big Adidas (OTC:) mentioned on Wednesday it expects a decline in its gross sales in North America this 12 months, blaming a nonetheless overstocked market there, as the corporate continues to dump the sneakers from its axed Yeezy line.
Foreign money-neutral gross sales in North America are anticipated to say no at a mid-single-digit price in 2024, with progress forecast in all different areas, Adidas mentioned, saying its remaining full-year outcomes.
Adidas reported preliminary outcomes for the 12 months in late January and delivered a 2024 forecast far under analysts’ expectations, as income dwindle from a sell-off in its discontinued sneaker line with Kanye West.
“Though by far not adequate, 2023 ended higher than what I had anticipated in the beginning of the 12 months,” CEO Bjorn Gulden mentioned.
The German retailer mentioned its board would suggest a dividend of 0.70 euros ($0.7650) per share, unchanged from final 12 months, regardless of a troublesome 2023 throughout which the corporate posted a web loss from persevering with operations of 58 million euros.
($1 = 0.9151 euros)
