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Vinicius Junior: Real Madrid star praises Sevilla after ejecting fan for racism
Vinicius Junior: Real Madrid star praises Sevilla after ejecting fan for racism
The Real Madrid star said he has also been sent a video of a second fan being abusive towards him.
2023-10-22 10:17
Adidas to sell Yeezy shoes and donate proceeds months after Kanye West split
Adidas to sell Yeezy shoes and donate proceeds months after Kanye West split
After months wrestling over the fate of milions of unsold Yeezy shoes, Adidas has decided to sell a portion of its remaining inventory and donate the proceeds to chartitable organizations, CEO of the German sportbrand Bjørn Gulden said Thursday. Adidas cut ties with Ye, the rapper formerly known as Kanye West, in late October, following his antisemitic comments on social media and in interviews. As a result, the fate of 1.2 billion euros ($1.3 billion) worth of the unsold Yeezys, a lucrative sneaker line launched with Ye, was unknown. At Adidas' annual shareholders meeting, Gulden said the company had spent months trying to find solutions. The CEO also added that Adidas spoke to NGOs and organizations that were harmed by Ye's comments and actions. “Burning those shoes cannot be the solution,” Gulden said, noting that Adidas was going to try to sell part of the remaining Yeezy inventory and “donate money to the organizations that help us and were harmed by what Ye said.” Exact details of this plan — including how many shoes will be sold and the timeline of selling them — remain unknown. Gulden said the company will provide updates as they moves forward. The move comes as Adidas is trying to stage a comeback and move beyond the Yeezy partnership. Cutting ties with Ye has cost Adidas hundreds of millions of dollars — with the company taking a loss of 600 million euros ($655 million) in sales for the last three months of 2022, helping drive the company to a quarterly net loss of 513 million euros. Adidas reported 400 million euros ($441 million) in lost sales at the start of 2023, the company announced last week. Net sales declined 1% in the first quarter, to 5.27 billion euros, and would have risen 9% with the Yeezy line, the company said. It reported a net loss of 24 million euros, a plunge from a profit of 310 million euros in the same period a year ago. Operating profit, which excludes some items like taxes, was down to 60 million euros from 437 million euros a year earlier. Meanwhile, Adidas is also facing a class-action lawsuit from investors who allege the company knew about offensive remarks and harmful behavior from Ye, years before terminating its pact with him. Adidas has pushed back on the allegations made in the lawsuit. Still, Gulden reminded investors that the nine-year partnership Adidas and Ye was “sensational." While he noted that Ye is a difficult person, “he's the most creative person in our industry,” Gulden said. “He created a model with Adidas that was sought after around the world.” But he added, “We lost that in a month." _________ AP Business Writer David McHugh in Frankfurt, Germany, and AP Retail Writer Anne D'Innocenzio in New York contributed to this report. Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide Adidas breakup with rapper Ye, lost Yeezy sales hit earnings Putin’s spokesman threatens ‘adequate response’ over UK missile pledge – live Boost for Erdogan rival as struggling candidate quits Turkish election race
2023-05-12 11:49
Venice's Grand Canal turns bright green due to fluorescein
Venice's Grand Canal turns bright green due to fluorescein
The spectacular transformation of a stretch of Venice's Grand Canal to fluorescent green was due to fluorescein, a non-toxic substance used for testing wastewater networks...
2023-05-30 08:15
What E. Jean Carroll has to prove to win her case against Donald Trump as jury deliberations begin
What E. Jean Carroll has to prove to win her case against Donald Trump as jury deliberations begin
A federal jury in New York has begun deliberations in E. Jean Carroll's civil battery and defamation lawsuit against former President Donald Trump.
2023-05-10 00:26
AP's Global Week in Pictures: June 24 - June 30
AP's Global Week in Pictures: June 24 - June 30
June 24 - June 30, 2023
2023-07-01 16:24
Who is Roscoe Danielson? NYC man arrested for allegedly killing his brother and mother
Who is Roscoe Danielson? NYC man arrested for allegedly killing his brother and mother
'It's insane this neighborhood was never like this before, now all of a sudden a body back-to-back. It's scary,' said a neighbor
2023-07-11 04:47
Woman alleges Jamie Foxx sexually assaulted her at New York bar, actor says it 'never happened'
Woman alleges Jamie Foxx sexually assaulted her at New York bar, actor says it 'never happened'
A woman alleges in a new lawsuit that Jamie Foxx sexually assaulted her at a New York bar in 2015
2023-11-24 06:52
Is Britney Spears' 'memoir' factual? Singer reportedly removes scandalous details about mom and sister after reconciliation
Is Britney Spears' 'memoir' factual? Singer reportedly removes scandalous details about mom and sister after reconciliation
Britney Spears seems to have made peace with her mother and sister, months before the release of her memoir, 'The Woman In Me'
2023-07-27 14:51
After Ankara bombing, Turkey hits back in Iraq and at home
After Ankara bombing, Turkey hits back in Iraq and at home
By Daren Butler ISTANBUL Turkey said it unleashed air strikes on militant targets in northern Iraq and detained
2023-10-02 19:29
Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices
Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices
Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two earlier production cuts by members of the OPEC+ alliance of major oil-producing countries failed to push prices higher
2023-06-05 01:24
Ken Paxton: Texas Attorney General acquitted of corruption charges
Ken Paxton: Texas Attorney General acquitted of corruption charges
Ken Paxton has always denied wrongdoing and called the impeachment a 'politically motivated sham'.
2023-09-17 06:17
15 Upstate New York Slang Terms You Should Know
15 Upstate New York Slang Terms You Should Know
You might know everything there is to know about New York City slang, but the moment you leave the city, fuhgeddaboudit. Upstate New York has its own set of regional colloquialisms, often depending on which area of the state you’re in.
2023-11-28 05:26