adidas Raises 2024 Profit Projections After Successful Yeezy Drops

The company made $159 million USD on the last drop.

Footwear
11,716 Hypes 11 Comments

Just last month, adidas documented its first annual loss in more than 30 years but fortunately, circumstances now seem to be looking up with revenues up 8% from that same time last year.

The company has issued a surprise announcement after “better-than-expected performance” during its first quarter. Previously, adidas had estimated around $532 million USD (€500 million EUR) for its 2024 operating profit, a number now hiked to $745 million USD (€700 million EUR).

The increased expectations were attributed to adidas’ Yeezy sales. Since terminating its partnership with Ye, the company has been selling off its remaining stock in limited drops, releasing just a few silhouettes and colorways at a time.

Its last drop in March generated $159 million USD (€150 million EUR), generating the company an operating profit of $53 million USD (€50 million EUR).

Based on its success offloading Yeezy in the past few months, adidas is anticipating that future drops will perform just as well, foreshadowing additional sales of around $213 million USD (€200 million EUR) in the upcoming months.

Read Full Article

What to Read Next

Will There Be a YEEZY Day 2024?
Footwear

Will There Be a YEEZY Day 2024?

Rumors are circulating online regarding adidas’ final YEEZY drop, but the company has yet to confirm the sale.

adidas Restocks YEEZY Slide, Foam Runner and Boost 350 V2 in Surprise Drop
Footwear

adidas Restocks YEEZY Slide, Foam Runner and Boost 350 V2 in Surprise Drop

The drop will choose queued buyers at random.

Official Images of the adidas YEEZY SLIDE "Salt"
Footwear

Official Images of the adidas YEEZY SLIDE "Salt"

Landing on shelves for the first time this week.


The adidas YEEZY SLIDE "Flax" Just Restocked
Footwear

The adidas YEEZY SLIDE "Flax" Just Restocked

After first dropping in 2022.

Jimmy Choo and Malbon Golf Debut a Hole-In-One Collaboration
Fashion

Jimmy Choo and Malbon Golf Debut a Hole-In-One Collaboration

Bringing luxury to the golf course.

Eike König Releases New Series of Art Blankets
Art

Eike König Releases New Series of Art Blankets

Handmade in Germany and released as an open edition.

‘Rockstar Games’ and ‘2k’ Parent Company To Cut 5% of Global Workforce
Gaming

‘Rockstar Games’ and ‘2k’ Parent Company To Cut 5% of Global Workforce

‘GTA 6’ maker Take-Two Interactive will also be canceling select games.

The Nike Air Force 1 Low "404 Error 2.0" Is Limited to 404 Pairs
Footwear

The Nike Air Force 1 Low "404 Error 2.0" Is Limited to 404 Pairs

Swapping leather for a lenticular material.

SP5DER Spins a Pink Web for New April Drop
Fashion

SP5DER Spins a Pink Web for New April Drop

Fit for the shifting temperatures.


HBX Archives Opens Curated Archival Fashion Storefront in Luxury Stores at Amazon
Fashion 

HBX Archives Opens Curated Archival Fashion Storefront in Luxury Stores at Amazon

Presented by Amazon
The first drop features pieces from Rick Owens, Chrome Hearts, Thom Browne, Maison Margiela and more.

Artist-Comedian Kevin Christy Presents His Surrealist Visions at The Hole NYC
Art

Artist-Comedian Kevin Christy Presents His Surrealist Visions at The Hole NYC

Featuring 19 new oil paintings that ruminate on the human response to loss.

Jean Paul Gaultier Brings Shayne Oliver Into the Fold With New Capsule
Fashion

Jean Paul Gaultier Brings Shayne Oliver Into the Fold With New Capsule

Launching May 6, the same day at the Met Gala. 

Air Jordan 1 Hi '85 "Bred" To Release In 2025
Footwear

Air Jordan 1 Hi '85 "Bred" To Release In 2025

Celebrating the 40th anniversary of the Air Jordan 1.

Cory Ng of Potluck Club's Guide to True New York City Asian Food
City Guides

Cory Ng of Potluck Club's Guide to True New York City Asian Food

The native New York restauranteur shares his childhood haunts as well as a few hidden gems across three boroughs.

More ▾
 
We got you covered. Don’t miss out on the latest news by signing up for our newsletters.

By subscribing, you agree to our Terms of Use and Privacy Policy.