Adidas Expects Sales Decline in Over-Stocked North America Market

Adidas Predicts Sales Decline in North America

German sportswear giant Adidas has announced that it expects a decline in sales in North America this year. The company attributes this decline to a market that is still overstocked. As part of its efforts to address this issue, Adidas continues to sell off sneakers from its discontinued Yeezy line.

Negative Sales Forecast for North America

Adidas projects a mid-single-digit decline in currency-neutral sales in North America for the year 2024. Despite this setback, the company is anticipating growth in all other regions. This announcement came alongside the release of Adidas’s full-year results.

Disappointing 2024 Forecast

Adidas had previously reported preliminary results for the year in late January. The company’s 2024 forecast fell significantly below analysts’ expectations. The decline in profits can be attributed to the sell-off of its Yeezy sneaker line collaboration with Kanye West.