Adidas expected major losses when Kanye separated.

(RT) ⸻ Adidas' decision to end its partnership with rapper Kanye West could push the sportswear company's operational losses past $1 billion in lost earnings. The apparel giant announced in October that it would not be continuing its nine-year relationship with West after he posted a series of anti-Semitic statements on social media. In a statement released on Thursday, Adidas said its financial planning for the forthcoming year reflects "significant adverse impact from not selling the existing stock" should it be unable to "sell or repurpose" leftovers from its 'Yeezy' collection. The company also said it expects sales to drop this year by a margin in the high single digits. Shares in Adidas lost 11% of their value on Friday after the announcement that it would end the year operating at a financial loss for the first time in three decades. These factors have contributed to the firm's loss-of-earnings estimates potentially being north of $1 billion for 2023.