Report: Adidas is sitting on $1.3 billion in unsold Yeezys

Drake is celebrating a musical milestone.

Drake is making music history!

Lionsgate again came in above market expectations as it reported results for its fiscal fourth quarter Thursday. It once more topped $1.1 billion in revenue, a 17% year-to-year jump, with $17 million in net income, for adjusted earnings per share of $0.21.

Kanye West is facing a $2 million lawsuit from the Gap, TMZ reports. Gap’s complaint stems from a separate lawsuit filed against the clothing company by Art City Center, which claims that a building it owns was renovated without permission in order to sell West’s clothing collaboration with the Gap in 2021 and 2022.

failed collaboration, claiming the embattled rapper made unapproved changes to a Los Angeles rental property the landlord is trying to collect on.According to court documents obtained by The Post, Gap filed a claim against West, 45, and his Yeezy clothing line in LA court last month.Art City Center, the company that claims to own the building leased to Gap, sued the clothing giant last year over “damages” to the property, at 1360 E. 6th St.The alterations included erecting an exterior ramp in the east side parking lot; installing a tunnel in the lot; removing ceiling lights; building a wall; and nixing three bathrooms, according to the lawsuit.Gap is trying to pass the buck to West, who announced the Yeezy Gap collaboration in 2020.The suit against West claims, “by making and not repairing or restoring the foregoing alterations of the premises that [West] made without Gap’s participation or approval, [West] breached the strategic agreement and directly and proximately caused Gap to incur expenses to repair and restore the premises.”Gap is asking West be held responsible for any damages owed to Art City, as well as $2 million in compensatory damages for itself.

The manager of an adult store in Manchester's Gay Village has spoken of his fears they are now 'sitting ducks for future attacks' after its windows were smashed in by masked thugs yet again on Monday evening (May 22).

press release by the European Data Protection Board (EDPB). The fine was leveled on the grounds that the company keeps transferring EU citizens’ personal data to the U.S.

Adidas has formally announced its plans for some of the remaining stock of Kanye West's Yeezy footwear brand. The fate of the shoes, which are valued at $1.3 billion, was kept in limbo after West's antisemitic comments and the subsequent end of their business relationship in October 2022.

Adidas announced on Friday that it plans to sell off the Yeezy products it has been sitting on ever since its partnership with Kanye West collapsed last year, with “a significant amount” of the money generated going to organisations that combat discrimination and hate.The sportswear company announced in October that it was terminating its long-running and very profitable alliance with West after his increasingly controversial racist and antisemitic statements made the partnership untenable. The sudden axing of the deal around West’s Yeezy brand left Adidas sitting on a lot of unsold stock and the company has been figuring out what to do with it ever since.Friday’s announcement said that some of that stock will now be put on sale via the Adidas website and app before the end of this month.

an unnamed defense official told Reuters Friday.Since August 2021, the United States has sent about $21.1 billion worth of weapons to Ukraine from its military reserves, per Reuters.“The Department of Defense’s change in evaluating the costs of arms sent to Ukraine is a major mistake,” U.S. Senator Roger Wicker, the top Republican on the Senate Armed Services Committee, told Reuters.

Kanye West Yeezy shoes will benefit organisations fighting antisemitism.Last year, Adidas cut ties with West and his Yeezy brand after the rapper shared a string of hate-fuelled rants aimed at the Jewish community.“Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness,” said Adidas at the time.Earlier this month, Adidas’ CEO Bjørn Gulden said that the decision was “hurting” the business and revealed they would be selling the remaining stock [worth an estimated £960million], with proceeds set to be donated to the organisations “that help us and were harmed by what Ye said”.It’s now been confirmed that proceeds will go to “leading anti-hate organisation” The Anti-Defamation League which is the “global leader in combating antisemitism, countering extremism and battling bigotry wherever and whenever it happens”.The Philonise & Keeta Floyd Institute for Social Change, which was founded by George Floyd’s brother Philonise, will also receive money from the sale of Yeezys.

Manori Ravindran Executive Editor of International Stuart Ford may have been named Variety’s Billion Dollar Producer, but the AGC Studios founder is already looking ahead to his next big milestone. “We’ve raised more than $1.5 billion in production financing and, the way our cinema business is evolving, who knows, in three or four years from now, I might be standing in front of you having achieved $1.05 billion at the box office,” said Ford. The executive was feted by Variety at a May 19 cocktail reception in Cannes. Many of the super-producer’s business associates and partners, as well as industry friends, dropped by the Croisette villa to toast Ford, who was given the honor by Variety’s co-editor in chief Ramin Setoodeh.

Is Kanye West seriously trying to revive his career after everything he’s done???

If you're a fan of Kanye West's Yeezy 450 trainers, but don't want to pay the hefty price tag, then it looks like Debenhams has a similar pair that will save you the money.

Bad Bunny is debatably the number 1 artist in the world and is passionate about everything he does. From performing on stage at Coachella to flying through the air in the WWE, to designing shoes, the Puerto Rican star leaves a mark on anything he does. Since 2021 he has collaborated with adidas, releasing his first shoe with the brand on March 17, 2021.

Kendall Jenner and Bad Bunny hit up the house that Kobe built for date night!

Kendall Jenner and Bad Bunny hit up the house that Kobe built for date night!The 27-year-old model and 29-year-old rapper sat courtside Friday night for Game 6 of the Western Conference semifinals between the Golden State Warriors and Los Angeles Lakers, and they seemed to have a blast. When they weren't whispering sweet things into their ears or posing for photos, the couple appeared really into the game, which the Lakers won in convincing fashion.An eyewitness tells ET that when the «Me porto bonito» rapper was featured on the jumbotron, he seemed surprised.

Kanye West‘s unsold Yeezy stock and donate some of the proceeds to charity.Earlier this month, Adidas’ CEO, Bjørn Gulden, admitted that the sportswear company’s severed partnership with West and his Yeezy brand was “hurting” the business.Gulden shared that sales were particularly affected in North America, which had seen a 20 per cent loss. The Yeezy loss also cut sales by €400m (£350 million) in the first quarter of 2023.The sportswear brand cut ties with Ye following a series of remarks from the rapper last year that were viewed as anti-Semitic.“What we are trying to do now over time is to sell some of this merchandise… burning the goods would not be a solution,” Gulden said at the company’s annual shareholder meeting (via BBC).He added that the company decided against donating Yeezy shoes to prevent them from reaching the market through indirect avenues.

Kim Kardashian is rocking a new style. Yesterday, the Skims founder sat courtside at the Game 4 of the Lakers vs. Warriors series, and she wore a printed t-shirt that would have mannequins at Forever 21’s approval.

Andrew Lloyd Webber has something to say about those silly Meghan Markle-in-disguise rumors!