The sportswear giant Adidias is foreseeing losses after ending its partnership with rapper Kanye West following his antisemitic comments last November.
The company expects lose over £1 billion in annual sales and £443 million in operating profit this year if it decides not to sell its stock of Yeezy sneakers.
Adidas cut ties with West, effectively ending the production of its Yeezy branded products, saying it “does not tolerate antisemitism”.
Adidas said it was still deciding whether to scrap its remaining Yeezy stock and would take a €500m (£443m) hit to its profits if it is all written off.
Adidas said it expects to return to profit in 2024.