Dax Group: Adidas expects growth again in Europe at the end of the year
The sports goods manufacturer wants to grow again in the fourth quarter. In the third quarter, the Herzogenaurach-based company increased sales in almost all markets - but it was slow in Europe.
Adidas expects high single-digit growth in Europe in the fourth quarter. This comes after a 4% decline in the region in the third quarter, the only region where the company saw a decrease in sales. Adidas attributed the decline to a shift in deliveries to wholesalers due to changes in their inventory system and a strategy to reduce wholesale shipments to avoid price discounts.
The company has raised its operating profit forecast for the year to 2.5 billion euros, up from 2.3 billion euros. Adidas aims to achieve revenue growth of around 2.5 billion euros and an operating result of around 2.5 billion euros for the year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
