Disappointing sales figures, Adidas shares fall again

German sportswear company Adidas reported disappointing second-quarter sales on Thursday but expects a second-half recovery after it caused a decline in Europe and saw its long-running Reebok fighting brand recover.

Adidas shares fell 2.3% to 0725 GMT. The stock had been rallying in recent weeks in the hope that it might drop its view – especially after German rival Puma raised sales and profit forecasts after a strong second quarter.

Adidas had already warned in March that supply chain issues would hit sales growth in the first half, citing specific problems that meet North American demand for mid-market apparel.

Adidas has eroded Nike’s dominance in the US market in recent years, pushing retro styles and joining celebrities like Kanye West and Beyonce.

Adidas quarterly sales were flat in Europe, recovering from a 3% decline in the first quarter as the firm took steps to reduce its confidence in its Originals fashion line and boost sales of sports performance apparel. , with the release of new products.

Adidas said it was confident sales would accelerate in the second half, allowing it to confirm a full prospect of a 5-8% currency-free sales growth and net operating income of between 1.88 and 1.95 billion euros.

Nike has responded by boosting marketing spending, with its sales up 10% in the quarter ended May 31, driven by a 22% increase in Greater China and 9% in Europe, the Middle East. Middle and Africa.

Reebok sales rose 3%, driven by the popularity of retro styles, especially in North America, where the brand expanded 10%, and in emerging markets./investing 

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