NATO Monitors Russian Naval Drills Near Finland and Norway
April 24, 2025: NATO closely monitors a series of Russian naval exercises in the northern waters near Finland and Norway amid heightened military activity
- April 25, 2025 10:27 pm
- California
November 11, 2021: -German sportswear company Adidas pared full-year sales and profit forecasts on Wednesday, citing sourcing disruptions and a challenging market environment in China after third-quarter results missed analyst expectations.
Adidas reported third-quarter sales up a currency-neutral 3% year on year at 5.752 billion euros. In comparison, operating profit fell 8.5% to 672 million euros, missing average analyst forecasts for 5.83 billion and 682 million euros.
Adidas shares were down 4.7% in the early Frankfurt trade.
CEO Kasper Rorsted told CNBC on Wednesday that there was a divergence between the market environment in Asia and Europe and the Americas, where sales continued to grow.
“Double-digit growth in the western part of the world and a double-digit decline in Asia, predominantly due to the corona impact, which is still lasting, and then also political tensions,” he said.
“So, we should expect that until we have a release of corona (restrictions) in Asia, we are not going to have a full recovery. However, where we see a somewhat normalized setup, we are experiencing double digits and trading as a company above the (2019) level.”
Factories in Vietnam, a significant supplier to the footwear industry, closed for up to 11 weeks because of COVID-19 outbreaks. Adidas rival Puma has warned that supply bottlenecks would mean a shortage of its products well into 2022.
Adidas said the market in Greater China, COVID-19 lockdowns in the Asia-Pacific region, and supply chain disruptions had cut revenue growth by nearly 600 million euros in the third quarter.
Sales fell 15% in Greater China due to renewed pandemic restrictions and the “geopolitical” situation, the company said.
Western brands, including Adidas, have faced a consumer boycott in China since March from the past statements saying they would not source cotton from Xinjiang after reports of human rights abuses against Uyghur Muslims. Beijing denies any abuses.
Adidas said it still expects 2021 currency-neutral revenue to rise by up to 20%, but it now expects growth to come in lower, without being much specific.
It also expects to reach the lower end of previous forecasts for a 2021 operating margin amid 9.5% and 10% and net income from continuing operations of 1.4 billion to 1.5 billion euros.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
April 24, 2025: NATO closely monitors a series of Russian naval exercises in the northern waters near Finland and Norway amid heightened military activity
April 23, 2025: The U.S. Supreme Court is preparing to issue a ruling on whether AI-generated political speech is protected under the First Amendment
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.