Adidas to slash dividend after Kanye West split
FOX Business Flash top headlines for March 7
Check out what’s clicking on FoxBusiness.com
Adidas is suffering some fallout from the company's decision to split with rapper and fashion designer Kanye West.
Adidas cut ties with West, known as Ye, in October following antisemitic comments by the rapper and workplace complaints against him.
The sporstwear maker will slash its 2022 dividend, warning the company could suffer its first annual loss in three decades this year.
Chief Executive Bjorn Gulden pledged to rebuild the bruised brand after dealing with the fallout from ending the partnership.
ADIDAS WARNS OF LOSSES IN AFTERMATH OF YEEZY FALLOUT