--Demand for Adidas's Yeezy sneakers topped expectations during the first online sale of the shoes since the company terminated its partnership with Kanye West, the Financial Times reports, citing people familiar with the matter.

--Adidas received orders worth more than 508 million euros ($565.2 million) for Yeezy sneakers as of June 2, decreasing the risk that the company would have to take a writedown on the remaining shoe stock, according to the newspaper.

--The company stopped selling Yeezy shoes in October, but decided to sell some of the outstanding inventory in order to avoid a further write-off.

Full story: http://bitly.ws/MMeZ

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

July 24, 2023 02:59 ET (06:59 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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