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Adidas reports slowing profits as it continues to navigate Yeezy fallout

By Ritika Bhoora8 March 2023

Sportswear giant Adidas has reported decreased profits for financial year 2022 as it suffers the repercussions of the fallout with rapper Kanye West.

For the 12 months to December 31, 2022, Adidas recorded a gross profit of €10.6bn (£9.45bn), 1% less than the €10.7bn (£9.54bn) it made in 2021.