German sportswear maker Adidas (ADSGn.DE) expects operating profit to nearly double to about 500 million euros ($542.3 million) this year after the company’s break-up with Kanye West and the discontinuation of its Yeezy business.
Adidas booked an operating profit of 268 million euros in 2023, down from 669 million euros a year earlier, according to an unscheduled preliminary earnings announcement.
That beat the 100 million euros previously forecast for 2023 by CEO Bjorn Gulden.
($1 = 0.9220 euros)
