{"id":930452,"date":"2020-04-27T11:32:38","date_gmt":"2020-04-27T15:32:38","guid":{"rendered":"https:\/\/www.snkrsday.com\/?p=930452"},"modified":"2020-04-27T11:32:38","modified_gmt":"2020-04-27T15:32:38","slug":"adidas-q1-2020-sales-results-down-95-percent","status":"publish","type":"post","link":"https:\/\/www.snkrsday.com\/adidas-q1-2020-sales-results-down-95-percent\/","title":{"rendered":"adidas Q1 2020 Profit Expectations Down 95% Due To COVID-19 Pandemic"},"content":{"rendered":"

adidas<\/a> has just reported its Q1 2020 results, and surprisingly the German sportswear giant shared that it missed its profit expectations by 93% and had a 19% fall in sales due to the current COVID-19<\/a> pandemic.<\/p>\n

According to Reuters<\/i><\/a>, adidas was expected to hit \u20ac263 million ($285.3 million), however it only pulled in \u20ac65 million ($70 million). “Our results for the 1st quarter speak to the serious challenges that the global outbreak of the coronavirus poses even for healthy companies,” chief executive Kasper Rorsted said in a statement. Additionally, adidas saw a decrease of 19% in sales, equating to $5.15 billion, which fell short of the $5.26 billion estimate.<\/p>\n

Like many companies around the world, adidas was forced to shut down factories and stores to help flatten the curve. adidas shared that 60% of its businesses are currently at a standstill, with more than 70% of its stores closed worldwide.<\/p>\n

For Q2, adidas expects another fall of 40% in its sales. “Both top- and bottom-line declines in the 2nd quarter of 2020 are currently expected to be more pronounced than those recorded in the 1st quarter,” adidas said, forecasting a slump in currency-adjusted sales of “more than 40%” and an operating loss.<\/p>\n

On the other hand, the pandemic has geared more attention towards fitness and health. adidas has seen record sales of yoga mats and Adilettes in recent weeks, while its e-commerce sales have risen by 35%.<\/p>\n

Make sure to keep on top of all the current COVID-19 news here<\/a>.<\/p>\n

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adidas Q1 2020 Profit Expectations Down 95%<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

adidas has just reported its Q1 2020 results, and surprisingly the German sportswear giant shared that it missed its profit…<\/p>\n","protected":false},"author":328337,"featured_media":930454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[1225462,1238826],"cultivate_rss":[],"class_list":{"2":"type-post"},"acf":[],"yoast_head":"\nadidas Sales Expectation Down 95% Due To COVID-19 Pandemic | Snkrs Day<\/title>\n<meta name=\"description\" content=\"Where to buy adidas Q1 2020 Profit Expectations Down 95% Due To COVID-19 Pandemic shoes. 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