Adidas makes $437 million from Yeezy shoe sales, cutting projected loss

LONDON (Reuters) - Adidas sales fell 5% in the second quarter but a release of Yeezy shoes helped its profit margin increase, narrowing a projected loss, the company said on Thursday, confirming figures released last week.

Sales of surplus Yeezy shoes generated around 400 million euros ($437 million) in the quarter, helping Adidas reduce its predicted loss for the year to 450 million euros, down from the 700 million euro loss previously expected.

($1 = 0.9150 euros)

(Reporting by Helen Reid; Editing by Tom Hogue)