Here’s what we have for you today:
• Cleaning it out
• Caffeine rush
• Catching it close
Kicking off the loss from Adidas
Uncrossed: Adidas had previously considered writing off about 300 million euros in unsold Yeezy inventory.
Still sold: In 2023, Adidas sold approximately 750 million euros worth of Yeezy products and donated some of the profits.
The reason: Adidas CEO Bjørn Gulden said “Our consumer, retail and trade research has shown that we can sell this remaining inventory in 2024 for at least the cost price. This is why we have only written off inventory that was either damaged or very broken in sizes.”
Coffee adjustment for Starbucks
The takeout: Delivery sales in 2023 reportedly made up 2% of sales at Starbucks.
Rolling the carpet: Near the end of 2023, the coffee chain started plans to launch its Siren System, which are used for speeding up order and fulfillment time; reportedly up to 40% of all cafes will have it by 2026.
Huff and puff: Starbucks CEO Laxman Narasimhan mentioned the company would partner with a delivery service named GoPuff to deliver orders placed outside of regular business hours, between 5 PM and 5 AM.
The adversity of slow growth at Microsoft
Side effects: As announced in January of 2024 Microsoft will be reducing 10,000 headcounts due to slower growth.
In addition: Microsoft will also eliminate roughly 1,900 employees in its gaming unit following the Activision deal.
AI saga: Microsoft CEO Satya Nadella stated the company now has 53,000 Azure AI customers.