The German sportswear company said that sales of the retro-style shoes are “very strong and growing,” helping increase first-quarter growth at the company, which is still trying to find its footing following the dissolution of its lucrative partnership with rapper Ye.
Buoyed by the strength of those shoes, plus higher demand for its running, basketball and soccer shoes, Adidas registered a net profit of about $182 million through the first three months of 2024 — a sharp reversal from the same time period last year when it reported a $26 million loss. Last year, Adidas slumped to a rare annual loss, hit by the fallout from its costly break-up with rapper Ye, sluggish sales in North America and a huge tax bill.
https://www.cnn.com/2024/04/30/business/adidas-earnings-samba-sales/index.html
The 10-year lucrative Adidas contract with UofL ends in 2028. Very important that Adidas remain healthy and in a position to hopefully extend this deal. The deal is worth $160 million, or $16 million per year, as reported Thursday night after athletics director Tom Jurich revealed the new agreement at a dinner with administrators and boosters.
Buoyed by the strength of those shoes, plus higher demand for its running, basketball and soccer shoes, Adidas registered a net profit of about $182 million through the first three months of 2024 — a sharp reversal from the same time period last year when it reported a $26 million loss. Last year, Adidas slumped to a rare annual loss, hit by the fallout from its costly break-up with rapper Ye, sluggish sales in North America and a huge tax bill.
https://www.cnn.com/2024/04/30/business/adidas-earnings-samba-sales/index.html
The 10-year lucrative Adidas contract with UofL ends in 2028. Very important that Adidas remain healthy and in a position to hopefully extend this deal. The deal is worth $160 million, or $16 million per year, as reported Thursday night after athletics director Tom Jurich revealed the new agreement at a dinner with administrators and boosters.
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