Sports group adidas has said preliminary full-year results for 2023 show revenues of €21.4 billion, a fall of 5% year on year.

It said it had made a decision to supply less product to wholesale customers in 2023 in an attempt to reduce high inventory levels. It said this had been successful, but had also had an effect on the figures.
The group also pointed to its decision to discontinue its Yeezy business as an important factor.

Share this story: