Adidas Warns of First Loss in Three Decades Following Split with Kanye West

Adidas has warned that it could experience its first annual loss in 31 years, with the sportswear company projecting a full-year operating loss of 700 million euros, or $739 million, for 2023. The bad financial news comes after Adidas ended its lucrative partnership with Kanye West after the rapper and fashion mogul embarked on an anti-semitic media tour.