The German sports clothing group Adidas is counting on a recovery of its financial performance in the third quarter. This will follow a major loss in the recent second reporting period of the year, when the company was hit hard by the closure of most of its shops due to lockdowns. Adidas then wrote deep red numbers.
Below the line, there was an operational loss of EUR 333 million during the reporting period. Revenues decreased by 35% to almost EUR 3.6 billion. The online sales were able to compensate for the shop closures. Adidas did not deliver a financial forecast for the whole year due to the pandemic.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com
