Following the decision on October 25, 2022, to terminate the adidas Yeezy partnership, adidas now incorporates the related top- and bottom-line impact into its guidance for FY 2022, reflecting the high seasonality of the adidas Yeezy business geared towards the fourth quarter. Consequently, adidas now expects currency-neutral revenues for the total company to grow at a low-single-digit rate in 2022. The company’s gross margin is now expected to be around 47.0% in 2022. adidas now forecasts its operating margin to be around 2.5% in 2022 and net income from continuing operations to reach a level of around EUR 250 million.
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