Adidas shares are down 15% since Thursday as the company deals with stagnating sales and a rash of anti-Semitic comments from its highest-paid employee.
Shares of German footwear and apparel giant Adidas slid Tuesday after it disclosed a nine-figure loss after breaking off its relationship with rapper Kanye West following his anti-Semitic tirades, an ill-timed public relations nightmare for the firm founded by a Nazi Party member whose stock was already falling due to slumping sales.
Adidas shares fell 6.1% to $97.46 in Frankfurt after the company dumped West.
West’s Yeezy line brought in an estimated $2 billion in sales annually for Adidas, according to Morningstar analyst David Swartz—about 10% of its total revenue.
