Adidas Reduces Profit Forecast After Split From Kanye West

German sportswear giant Adidas slashed its earnings forecast saying the end of its partnership with rapper Kanye West would cut this year’s net income in half. <br />The group now expects a net profit from continuing operations of 250 million euros for 2022, down from a 500-million-euro estimate last month, which was a downgrade from previous forecasts partly because of slowing sales in China. <br />Adidas says its full-year revenues are forecast to grow at a low-single-digit rate, compared with the mid-single-digit rate it had still expected last month.