Adidas's Rebound: Retro Sneakers and Apology

Adidas leverages retro sneakers to offset the collapse of its Yeezy partnership, aiming to reach a production rate of 15 million pairs a year. The company raises its guidance for 2023, citing the positive performance of its Yeezy brand, and cuts projected losses by over $300 million after selling unsold Yeezy shoes. Adidas's president of North America is leaving, and CEO Bjorn Gulden apologizes for suggesting that Kanye West did not mean his antisemitic comments, which led to Adidas cutting ties with him.