Amazon workers stage walkout over company's climate impact, return-to-office mandate
A group of corporate Amazon workers upset about the company’s environmental impact, recent layoffs and a return-to-office mandate is planning a walkout at the company’s Seattle headquarters
2023-06-01 01:46
Why the Atlanta mugshots are so, so bad
Booking photos of Donald Trump's co-conspirators are a professional photographer's worst nightmare.
2023-08-25 05:59
What role did Morgan Fairchild play in 'Friends'? Actress pays tribute to 'son' Matthew Perry
Matthew Perry was found dead in the jacuzzi of his Los Angeles home
2023-10-29 18:20
The 25 Best Haunted House Movies of All Time
The haunted house is one of horror’s most time-honored tropes, a dark twisting of the place we call home into a maelstrom of terror and things that go bump in the night.
2023-10-27 06:29
FDIC Scuttles Meeting on Bank Fees as Pressure Mounts on Chair
A Federal Deposit Insurance Corp. meeting on Thursday to vote on how to refill the deposit insurance fund
2023-11-17 06:51
Ex Subway Boss to Lead Codelco With No. 1 Copper Title at Risk
The former head of Santiago s subway will take over as chief executive officer of Codelco as Chile’s
2023-08-19 08:58
Joanna Parrish murder: French serial killer's ex-wife tried in student cold case
Monique Olivier goes on trial in France 33 years after Joanna Parrish was found dead in a river.
2023-11-28 21:51
Adidas is still figuring out what to do with $1.3 billion worth of unsold Yeezys
Nearly seven months on from Adidas parting ways with rapper Kanye West, and the sportswear brand reportedly still has $1.3 billion of unsold Yeezy stock in its warehouses. The decision from Adidas to split from West - otherwise known as Ye - came back in October last year came after the 45-year-old made antisemitic remarks both in interviews and online. But now, Adidas has to decide what to do with the remaining stock of the popular shoe as the company attempts to turn its fortune around after it abruptly ended its partnership with West and his Yeezy brand, with 400 million euros ($441 million) in lost sales at the start of the year. Sign up to our free Indy100 weekly newsletter Though Adidas is "getting closer and closer to making a decision" on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said, as per Associated Press. He became in charge back in January this year, three months after Adidas terminated it's partnership with Ye. However, a decision has not yet been reached due to "so many interested parties," he added. Gulden did not confirm whether the option to destroy the shoes had been ruled out but noted that this is something it is the company is "trying to avoid." Meanwhile other options have their own downsides, since selling the shoes would mean Ye would need to be paid royalties, removing brand identification would be dishonest. Giving the shoes away for free sounds like a nice idea in theory but this could cause them to be resold at a higher market price. Gulden is also remaining tight-lipped on the exact quantity of stock that is left since he believes if consumer are aware of this number it "could have an impact on demand," as per AP. The CEO admitted losing Yeezy is "of course hurting us" and if Adidas decides not to sell the remaining shoes, it could reduce earnings by 500 million euros this year. Net sales declined 1 per cent in the first quarter, to 5.27 billion euros, and would have risen per cent with the Yeezy line, the company said. As a whole, Gulden described 2023 as a "a year of transition" with "a better ’24 and a good ’25" as the German sportswear business continues without the Yeezy brand. Elsewhere, Adidas found itself being sued by investors last week who allege the company knew about Ye’s offensive remarks and harmful behaviour years before the termination and failed to take precautionary measures to limit financial losses. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-05-10 02:19
US jobless aid programs bilked of up to $135 billion during COVID, watchdog says
Up to $135 billion of jobless benefits paid out by U.S. states during the coronavirus pandemic may have
2023-09-13 09:26
'Seen that walk': Biden trolled as he leaves White House Thanksgiving turkey pardoning ceremony abruptly
After pardoning Liberty and Bell, President Biden made an abrupt dash for the White House, which led to netizens having a laugh on social media
2023-11-21 17:28
‘Mama June’ fans slam Anna ‘Chickadee’ Cardwell for ‘verbal abuse’ amid battle with cancer
Anna 'Chickadee' Cardwell was diagnosed with stage four cancer earlier this year and had to undergo chemotherapy
2023-08-20 15:54
Meta's Twitter rival Threads launches web version
Threads, Meta's challenger to depose Twitter as the go-to platform for celebrities, companies and governments, is now available on the web as it seeks...
2023-08-25 08:52
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