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Adidas Lowers Earnings Forecast After Dropping Kanye West



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Adidas, just weeks after severing its very profitable relationship with the rapper and designer Kanye West, said on Wednesday that it would need to cut revenue and earnings forecasts for a fourth time this year.The German company, the world’s second-largest sportswear brand, said the lowering of its guidance for the year was linked to the termination of its partnership with Mr. West, who now goes by Ye, along with costs linked to its exit from Russia after the invasion of Ukraine and continuing difficulties in Chinese markets.In its third-quarter earnings report, Adidas projected revenue growth for 2022 in the low-single-digits percentage range, and said its operating profit margin would be around 2.5 percent. Those forecasts have deteriorated consis …

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