Adidas 2022 income drops, more pain ahead

By Agence France-Presse

Feb 11, 2023 12:06 am

FRANKFURT, Germany: Adidas' net income fell heavily in 2022, according to preliminary results released on Thursday, with the German sportswear giant predicting major operating losses this year after ending a tie-up with Kanye West.

Net income for last year was 254 million euros ($272 million), a nearly 83-percent drop from 1.49 billion in 2021, the figures showed.

FALLOUT Photo of the Adidas sneaker worn by Kadeem Jack #6 of the Sioux Falls Skyforce during the game against the Long Island Nets on Wednesday, Feb. 8, 2023 (February 9 in Manila). Adidas’ net income for 2022 fell to 83 percent posting a net income of 254 million euros ($272 million). AFP PHOTO

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