Adidas: posts Q2 loss of E306m
(CercleFinance.com) - Q2 2020 sales fell by 34% to 3.
58 billion euros, due to the coronavirus pandemic, with all markets are badly hit.
Sales of the Adidas brand fell by 33% in the Q2, while Reebok's sales declined 42%, reflecting the brand's greater exposure to the US market.
The company's gross margin decreased by 2.4% to 51.0% (vs. 53.5% in 2019) in Q2.
Adidas made a net loss from continuing operations of 306 million euros (vs. +462 million euros in 2019). EPS from continuing operations was negative at -1.45 euro (vs. +2.33 euros in 2019).
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