List of All Articles with Tag 'b'

The late pop superstar Prince is being honored in Minnesota as the state renames a stretch of highway after him

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.

Republican House Speaker Kevin McCarthy rejected the possibility of a short-term debt-limit extension hours ahead of a meeting

By Marc Jones and Rodrigo Campos LONDON/NEW YORK Ecuador sealed the world's largest 'debt-for-nature' swap on record on

By Jason Lange WASHINGTON U.S. President Joe Biden's public approval was at 40% in recent days, close to

The Eurovision Song Contest is returning to the U.K. for the first time in 25 years, but its heart will be in Ukraine

By Raphael Satter and Christopher Bing WASHINGTON (Reuters) -The FBI has sabotaged a suite of malicious software used by elite

Former Buffalo Bills punter Matt Araiza was reportedly not present during an alleged gang rape, per Yahoo Sports.The Buffalo Bills and Matt Araiza parted ways as the punter was facing a criminal and civil case regarding rape allegations. The alleged incident, which involved a then-17-year-old fe...

A federal jury in New York has begun deliberations in E. Jean Carroll's civil battery and defamation lawsuit against former President Donald Trump.

It's been five years since Meek Mill was released from prison after a sentence for a probation violation that sparked controversy and spurred the #FreeMeekMill movement.

President Vladimir Putin on Tuesday vowed Russia would be victorious in Ukraine during a military parade on Red Square and blamed Western countries for the conflict, comparing the...

Robert De Niro hasn't revealed who the mother of the child is, but his girlfriend Tiffany Cheng was seen sporting a baby bump in March