Adidas Sticks To Its World Cup Sales Guidance Despite Germany's Exit: Report

  • Adidas AG ADDYY said it is persistent with its aim to make €400 million ($420.92 million) sales in the 2022 football world cup.
  • The sportswear maker, Reuters reported, reiterated its stand despite Germany’s ouster from the tournament.
  • The four-time champions crashed out of the contest in spite of a 4-2 win against Costa Rica in their last Group E match on Thursday.
  • It is to be seen whether the exit of Adidas’ home team will impact the demand of its goods during the remainder of the competition.
  • Adidas recently slashed its FY22 revenue outlook to a low-single-digit growth from mid-single-digit growth.
  • The termination of its partnership with American rapper, Kanye West is said to cost the company €250 million on its FY22 net income.
  • Price Action: ADDYY shares closed higher by 1.94% at $65.76 on Thursday.
  • Photo Via Company
Posted In: NewsMediaGeneralBriefsEurasia