BERLIN: Adidas said on Monday that its second-quarter operating profit plunged but that thanks to selling part of its huge inventory of Kanye West's Yeezy products it now expects a lower annual loss.
The German sports footwear and apparel giant said its operating profit plunged 55 percent to 176 million euros ($195 million) during the April-June period, on flat revenue in local currencies but with a 5-percent decline in euros to 5.3 billion.
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