Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Adidas posts 28% decline in Q2 operating profit despite sales increase

Stock Markets Aug 04, 2022 01:55AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The Adidas shoe Azteca Gold 1968 is displayed during celebrations for German sports apparel maker Adidas' 70th anniversary at the company's history exhibition in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert

BERLIN (Reuters) - Adidas (OTC:ADDYY) on Thursday said operating profit fell by 28% in the second quarter to 392 million euros ($398.43 million), as results suffered from suspending business in Russia, higher supply chain costs and COVID-19 lockdowns in China and Vietnam.

The German sportswear firm said currency-neutral sales rose 4% in the quarter but net income from continuing operations declined to 360 million euros from 387 million euros in the same period last year.

The company had cut its 2022 outlook in July, citing slower than expected recovery in China, and now expecting currency-neutral revenues to grow at a mid- to high-single-digit rate this year.

($1 = 0.9839 euros)

Adidas posts 28% decline in Q2 operating profit despite sales increase
 

Related Articles

Baidu Says They are a 'Generation Ahead’ of Tesla
Baidu Says They are a 'Generation Ahead’ of Tesla By Investing.com - Aug 16, 2022 1

By Michael Elkins Robin Li, co-founder, and executive chairman of Baidu (NASDAQ:BIDU), a Chinese technology company, recently made a statement saying that his company’s technology...

Dow, S&P 500 gain on retail earnings boost
Dow, S&P 500 gain on retail earnings boost By Reuters - Aug 16, 2022 13

By Bansari Mayur Kamdar and Anisha Sircar (Reuters) -Strong earnings from Walmart (NYSE:WMT) and Home Depot helped drive gains in the Dow Jones and the S&P 500 indexes on...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email