Adidas warned of a mid-single-digit sales decline in North America in 2024 as it continues selling off its remaining Yeezy inventory. Operating profit for 2023 was $292.9 million, above expectations, on flat currency-neutral sales. Fourth-quarter operating loss was $412 million as the company took Yeezy hit but sold inventory. Adidas projected a 2024 operating profit of $546 million. Growth is expected to pick up in the second half of 2024 from events like the Olympics and Euros. Analysts said order books are still weak for the first half of 2024 as retailers reduce stock.