- Adidas AG increase revenue 6% to 23.7 billion USD in 2022, net profit fell 83% to 254 million USD.
- Slashed dividend by almost 80%.
- Revenue to decline by single digit percentage in 2023, aiming for a reset under new CEO.
- Inventory levels increased by half to 6 billion USD in 2022.
- Facing slump in China and losses due to terminated partnership with rapper Kanye West.
Adidas Slashes Dividend as Problems Mount
Sportswear giant is grappling with a slump in China, a mountain of unsold stock and the end of its Yeezy partnership with Kanye West
Trefor Moss
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