【 introduction 】 recently, German maker Adidas AG Adidas group released its interim results at the same time announced in the second half of the profitability of challenging for the signal, and a drag on the world’s second largest sporting goods group stake is in late Thursday plunged as much as 7.1% (25.4 billion euros), which is a three year high intraday decline.
German manufacturer Adidas AG’s shares plunged 7.1 percent (25.4 billion euros) late Thursday, the biggest intraday drop in three years, as the German company reported interim results and signaled challenging second-half earnings.
Adidas AG, however, said it expected to continue to see lower prices in Europe in the short term in order to revive sales, and to expect high purchasing costs in the current economic environment.
Chief executive Kasper r. rsted said in a media interview that a currency war was more of a concern than a trade war, with China and the United States contributing more than 45 percent of the group’s revenue, which would hit Adidas AG in particular.
The interim report also showed that Europe’s home market ended its fourth consecutive quarter of decline in the second quarter, with revenues of 1.421 billion euros just about the same as a year earlier.
Harm Ohlmeyer, the chief financial officer, predicted at the analysis meeting that Europe had already entered a plateau and would see a rebound in the second half of the fiscal year, enough to support full-year sales growth.
Adidas brand sales growth slowed to 4.0 per cent in the second quarter from 5.3 per cent in the first quarter, while Reebok reversed the decline to grow 3.1 per cent.
Adidas AG’s net sales of 5.509 billion euros in the quarter fell short of market expectations of 5.54 billion euros, up 4.7 percent from 5.261 billion euros in the same period last year. Excluding currency effects, they rose 4 percent, unchanged from the first quarter, with digital businesses climbing 37 percent.
Big brother Nike, the sporting goods brand, saw its north American revenues jump by 10% in the year to the new quarter.Harm also points out that the us is still a very positive and promising market.
The asia-pacific region, adidas’s biggest market, posted a modest 7.8 percent growth.Growth in greater China dropped two percentage points from the previous month to 14 percent, and real traffic in South Korea continued to decline.
Harm Ohlmeyer also said the store sales growth in China has been very impressive and has been a major driver of growth in China.In the Chinese market, both online and offline channels have achieved a very good balance.
Puma, adidas’s arch-rival, has had a good year, growing at double-digit rates.And the big brother of the sporting goods industry is still untouchable, continuing to run in Europe and Asia.Adidas can say is, before have Wolf after tiger.
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Post time: Sep-26-2019