Adidas Stock Plummets, Could Lose as Much as $1 Billion

Adidas made the unfortunate announcement on Thursday that due to its separation with Kanye West, the company could lose as much as $1 billion in revenue this year.

Adidas is unable to sell Yeezy merchandise after separating from brand creator, Kanye West, following his antisemitic remarks last October. The company previously announced its plan for trying to “repurpose” the remaining Ye clothing. Adidas said selling the merchandise under its own name would save the company roughly $300 million in royalty and marketing fees, CNN reported.

However, if the company is not able to repurpose any of the clothes and shoes, it could add up to $534 million in operating profit for this year.

According to CNN, the other options in dealing with the unsold merchandise would be donating or destroying it. Both of which, obviously, would not bring in any revenue.

Adidas shares dropped 11% Friday morning after the announcement.