The sporting goods manufacturer Adidas continues to row back for the current year. A slower recovery of business in China due to the corona-related lockdowns and an expected weaker consumer mood in other countries are the reasons for this, the company announced on Tuesday in Herzogenaurach. According to preliminary figures, however, the second quarter was “slightly” better than expected. For 2022, the management around CEO Kasper Rorsted expects currency-adjusted sales growth in the mid to high single-digit percentage range – significantly less than before. Most recently, Adidas had issued a plus at the lower end of the range of 11 to 13 percent. The operating margin is now expected to be seven percent instead of around 9.4 percent as before, and profit is also expected to be around 1.3 billion euros, below the previously expected up to 1.9 billion euros.
Sporting goods manufacturer – Adidas weakens in China – economy
