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‘Going forward, we will leverage the existing inventory with the exact plans being developed as we speak,’ Adidas finance chief Harm Ohlmeyer said Wednesday.\u00a0<\/p>\n
The German shoe and sportswear maker cut its sales and profit outlook part of its third-quarter earnings statement, even as the company’s chief financial officer said the profitability of the Yeezy shoe collaboration<\/a> with Ye had been ‘overstated.’\u00a0<\/p>\n The company slashed its expectations in half for net profit from continuing operations to $252 million this year from about $500 million. That matched its earlier statement that ending the partnership with Ye would cost it $252 million in profits.<\/p>\n The Yeezy brand accounted for up to 15 percent of Adidas’ net income, Morningstar analyst David Swartz said in a note on October 26.\u00a0<\/p>\n Adidas split from Ye on October 25 just days after the rapper claimed on a podcast that\u00a0, despite saying ‘anti-Semitic things’. In the event you loved this informative article and you want to receive more info relating to evDeN EVE NAKliyAt<\/a> kindly visit our own website. \u00a0<\/p>\n