Adidas cautious for year-end as pandemic lockdowns return to affect sales

0
Adidas cautious for year-end as pandemic lockdowns return to affect sales
CREDIT: Twitter

GERMAN sportswear firm Adidas are cautious for their year-end as pandemic lockdowns return to affect sales.

-- Advertisement --

The company has announced that they expect sales to decline in the last three months of the year despite forecasting a return to growth in China, as coronavirus lockdowns return.

With the retail industry struggling, especially for those on the high-street, Adidas is expecting a decline in the fourth quarter despite more than 90% of its stores staying open during heavy new lockdowns across Europe.

“While at the beginning of the quarter we were on track for growth in Q4, a worsening of the pandemic in many regions of the world is again requiring our patience and support,” Chief Executive Kasper Rorsted said in a statement.


Adidas forecasts a return to growth in greater China in the fourth quarter, even though the year-ago period was strong, and said it expects a fourth-quarter operating profit of between €100 million and €200 million.


Thank you for taking the time to read this news article “Adidas cautious for year-end as pandemic lockdowns return to affect sales”. For more UK daily news, Spanish daily news and Global news stories, visit the Euro Weekly News home page.


Euro Weekly News is delighted to continue be able to bring you a range of News from around Spain in English and Global News live as it happens.

Euro Weekly News doesn’t cost you anything but your internet connection. Whether it’s bringing you the local Spanish news or the International news today, we’ve got you covered!

Euro Weekly News, the leading free local and national newspaper in Spain, the people’s paper, we lead others follow!





LEAVE A COMMENT

Please enter your comment!
Please enter your name here