[Levin]

PUBLISHED MAY 6, 2022, 2:37 PM SGT


GENEVA (BLOOMBERG) - Adidas has cut its profitability targets for this year and forecast a plunge in revenue from China due to Covid-19 lockdowns.

The company said on Friday (May 6) that supply bottlenecks in Vietnam have reduced the availability of products, eroding sales. A fifth of the shoemaker's business is underperforming amid a whirlwind of geopolitical challenges.

First-quarter revenue to Greater China fell 35 per cent, and the company has been starting to increase prices as higher costs for transport, shoes and garments erode profitability.

Foreign brands are struggling to hang on to China as a major growth driver after almost a year of consumer boycotts and preferential treatment for home-grown companies.


https://www.straitstimes.com/business/co...hina-slump

[Migrant]

Did they use xinjiang cotton?

[FangFang]

I thought better business as younger gen like to purchase this model too.

[kokee]

below thread said china people prefer nike & adidas than li ning, blackrock dump li ning shares last week.
china now everything down, property, car, hp & almost all, domestic demand crash due to jobless surges, pay cut & bankrupt.


https://sgtalk.net/Thread-Blackrock-dump...s-and-Nike

not only china property, stock crash, car market, even hp sale also plunges due to no money liao, domestic demand tumble, jobless surges, pay cut, retrenchment everywhere with factories & investment pull out expedite.
ton of bankrupt & closed down of all trades, shops & sme business, unemployment shoot to sky, all run road.





利潤下滑50%，市值蒸發超過4000億，又一家汽車巨頭瀕臨破產，大股東套現跑路。

中國經濟即將崩盤

[cityhantam]

被紧急辞退，踢出董事局！抵制新疆棉花的阿迪达斯CEO结局太惨！新上任CEO对中国加投54亿欧元！中国市场产品打5折出售，只想求中国消费者原谅解除制裁！阿迪这个行为和德国政府想要疏远中国背道而驰啊！
.
.

[Sharexchange]

China too many fake Adidas..they are cheap to produce and many china people just want cheap products rather than real adidas...thats why real one sales always no good in the end.

[cityhantam]

China too many fake Adidas..they are cheap to produce and many china people just want cheap products rather than real adidas...thats why real one sales always no good in the end.

You faking Adidas in China ah?

[RiseofAsia]

I thought better business as younger gen like to purchase this model too.

Recently, adidas has a 40% discount sales. I bought some sport shorts. 

Really value for $$$.
The good thing for buying adidas online store is that the item can be exchanged even for sale items.

[alanis]