×
161
Fashion Jobs
LIFESTYLE BRANDS
Area Manager-Projects Execution (Telangana &Amp; Andra Pradesh)-Hyderabad
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Financial Manager - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Brand Training Manager, Planet Fashion - Bangalore
Permanent · BENGALURU
DA MILANO LEATHERS PRIVATE LIMITED
Assistant Manager- Payroll
Permanent · DELHI
UNIVERSAL MANAGEMENT CONSULTANTS
Head of Human Resource
Permanent · BENGALURU
UNIVERSAL MANAGEMENT CONSULTANTS
Head of Human Resource
Permanent · DELHI
KOELLE DESIGNS PRIVATE LIMITED
Assistant Manager Purchase
Permanent · JAIPUR
CAREERMARK 6
HR Manager
Permanent · HIRIYUR
LINEN DESIGN COMPANY PVT.LTD
Senior Corporate Sales Manager
Permanent · GURUGRAM
UNITED HR SOLUTIONS PVT LTD
Business Development
Permanent · AHMEDABAD
AND DESIGNS INDIA LTD.
Buyer & Planner
Permanent · NAVI MUMBAI
GREENFIELD RESOURCES PVT. LTD.
Business Development Executive
Permanent · AHMEDABAD
GENIUS CONSULTANTS LIMITED
Head of Department - Cost Accountant
Permanent · KOLKATA
LIFESTYLE BRANDS
Brand Training Manager, Peter England - Bangalore
Permanent · BENGALURU
PLACEMENT PANDITS CONSULTING
Operations Manager-Garment Industry
Permanent · GURUGRAM
LIFESTYLE BRANDS
Area Sales Manager-Patna
Permanent · BENGALURU
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Assistant Manager- Design, Casuals- pe
Permanent · BENGALURU
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU

Adidas sees better second half, confirms 2019 outlook; shares slip

By
Reuters API
Published
today Aug 8, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

German sportswear company Adidas reported disappointing second-quarter sales on Thursday but expects a recovery in the second half after it stemmed a decline in Europe and saw its long-struggling Reebok brand recover.


Second-quarter sales rose a currency-adjusted 4% to 5.51 billion euros - Adidas


Adidas shares fell 2.3% by 0725 GMT. The stock had rallied in recent weeks on hopes it might lift its outlook - particularly after German rival Puma raised its sales and profit forecasts following a strong second quarter.

“Given the recent rerating in the shares since April and narrowing valuation gap versus peers, the lack of a sales or earnings beat is unusual and brand momentum remains concerning,” Credit Suisse analysts wrote of Adidas.

Second-quarter sales rose a currency-adjusted 4% to 5.51 billion euros ($6.18 billion), shy of average analyst forecasts for 5.54 billion as the company saw a strong decline in the soccer category a year on from the World Cup.

​Adidas had already warned in March that supply chain issues would hit sales growth in the first half, citing particular problems meeting North America demand for mid-market clothing.

Adidas has eroded Nike’s dominance of the U.S. market in recent years, pushing retro styles and teaming up with celebrities such as Kanye West and Beyonce.

Nike has responded by ramping up spending on marketing, with its sales rising a currency-adjusted 10% in the quarter ended May 31, driven by a rise of 22% in Greater China and 9% in Europe, Middle East and Africa.

Adidas quarterly sales were flat in Europe, recovering from a 3% fall in the first quarter after the firm took steps to reduce its reliance on its Originals fashion line and boost sales of sports performance gear, with new product launches.

Group sales rose 14% in China and 6% in North America.

Adidas said it was confident sales would accelerate in the second half, allowing it to confirm a full-year outlook for currency-neutral sales growth of 5-8% and net income from continuing operations of between 1.88 and 1.95 billion euros.

Quarterly net profit from continuing operations rose 10% to 462 million, helped by another quarter of strong growth for e-commerce, where sales rose 37%. Margins are higher for online sales than wholesale.

Reebok sales rose 3%, driven by the popularity of retro styles, particularly in North America, where the brand expanded 10%, and in emerging markets.

© Thomson Reuters 2020 All rights reserved.