Adidas will slash its dividends as the split with Kanye West's Yeezy looks set to wipe out $1.3 billion in earnings

Wed, 03/08/2023 - 05:48

Kanye West and Adidas — Adidas has warned it could lose $1.3 billion after severing ties with 'Yeezy' designer Ye.
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Adidas said Wednesday it will cut its 2022 dividend by around 80% after ending its Yeezy partnership.
The sportswear giant expects to take a $1.3 billion earnings hit after severing ties with Kanye West.
Adidas dropped the Yeezy sneaker line after rapper West, known as Ye, made antisemitic comments.

Adidas slashed its 2022 dividend by 79% Wednesday, as the end of the German sportswear giant's partnership with "Yeezy" designer Ye looks set to hammer its profits.