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).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
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).
Copyright (c) 2020 CercleFinance.com. All rights reserved.