Brands-To-Retail Hits: 3515

Despite sales declines in China, Adidas raises its outlook

Brands-To-Retail Hits: 3515
Despite sales declines in China, Adidas raises its outlook
Brands-To-Retail Hits: 3515

5th Aug 2021, Mumbai:

Adidas' optimism is bolstered by upcoming product launches such as new versions of its famous NMD shoes, as well as sporting events such as the Olympics and the start of the European club soccer season.

BERLIN: Adidas boosted its full-year sales and profit forecasts as demand rose throughout the globe, but the firm suffered a hit in China, where Western brands faced a boycott of their products in late March. Adidas' optimism is bolstered by upcoming product launches such as new versions of its famous NMD shoes, as well as sporting events such as the Olympics and the start of the European club soccer season.

Adidas' optimism is bolstered by upcoming product launches such as new versions of its famous NMD shoes, as well as sporting events such as the Olympics and the start of the European club soccer season. BERLIN: Adidas boosted its full-year sales and profit forecasts as demand rose throughout the globe, but the firm suffered a hit in China, where Western brands faced a boycott of their products in late March. Adidas' optimism is bolstered by upcoming product launches such as new versions of its famous NMD shoes, as well as sporting events such as the Olympics and the start of the European club soccer season.

In late March, Western companies such as Adidas were targeted online in China for previous comments that they would not source cotton from Xinjiang due to reports of human rights violations against Uyghur Muslims. Beijing denies any wrongdoing. Adidas stated in May that demand in China had first dropped sharply, but that sales had subsequently rebounded slowly but steadily. On Thursday, it made no mention of the tensions, instead referring to the "geo-political situation."

Apparel retail revenues in China down 6.60% in 2020; e-commerce remains positive

 

TOP 5:

1. Malls in India to bounce back stronger post second wave

2. The Souled Store to expand product portfolio

3. In Q2, Under Armour maintains its growth trajectory and improves its outlook

4. Amazon India launches new 'Specialized Fulfillment Center' in Hyderabad

5. Flipkart vows to comply with Indian laws on FDI

 

Author’s Posts