A boycott in China and containment in the major producer country of Vietnam are a problem for sporting goods manufacturer Adidas. The company raised its forecast on Thursday and now expects sales to increase by up to 20%. But without the struggles in the Far East and other supply chain issues, second-half revenue could have been € 500 million higher, CFO Harm Ohlmeyer said. It will likely be in September before production in Vietnam resumes, Ohlmeyer said. In order to mitigate the effects of the status quo, production must be redistributed. In 2020, a good quarter of all production came from the country. In the growing market of China, currency adjusted sales fell 16%.
July 21, 2021
August 11, 2021