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Adidas Trims 2021 Forecast on Sourcing Disruptions
Adidas lowered its full-year sales and profit forecasts, citing sourcing disruptions and a tough market environment in China. Sales in the third quarter increased 3 percent with revenues in EMEA and North America both grew 9 percent, Latin America surged 55 percent and Asia-Pacific fell 8 percent. Management comments: “Adidas performed well in an environment characterized by severe challenges on both the supply and demand side,” said adidas CEO Kasper Rorsted. “As a consequence of…
