00:00 It's Benzinga and here's what's on the block.
00:02 Adidas warned of a mid-single-digit sales decline in North America in 2024
00:07 as it continues selling off its remaining Yeezy inventory. Operating profit for 2023
00:12 was $292.9 million above expectations on flat currency neutral sales. Fourth-quarter operating
00:19 loss was $412 million as the company took Yeezy hit but sold inventory. Adidas projected a 2024
00:25 operating profit of $546 million. Growth is expected to pick up in second half of 2024
00:31 from events like the Olympics and Euros. Analysts said order books are still weak
00:36 for the first half of 2024 as retailers reduce stock. For all things money visit Benzinga.com
