{"id":5159,"date":"2023-05-06T20:21:48","date_gmt":"2023-05-07T00:21:48","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/adidas-rises-as-q1-results-better-than-expected-but-ceo-cautious-of-bumpy-year\/"},"modified":"2023-05-06T20:21:49","modified_gmt":"2023-05-07T00:21:49","slug":"adidas-rises-as-q1-results-better-than-expected-but-ceo-cautious-of-bumpy-year","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=5159","title":{"rendered":"Adidas rises as Q1 results better than expected, but CEO cautious of ‘bumpy year’"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. adidas AG (ADDYY) rises as Q1 results better-than-expected, but CEO cautious of ‘bumpy year’<\/span>
\n<\/i>\n<\/div>\n

Adidas\u00a0AG (OTC:) shares rallied Friday after reporting better-than-expected and revenue in the first quarter, despite the adverse impact of the company ending its Yeezy partnership with rapper Kanye West.<\/p>\n

Even so, Adidas said it continues to expect to report an operating loss of \u20ac700 million in 2023 if it decides not to repurpose any of the existing Yeezy products going forward.<\/p>\n

Full-year revenues are expected to decline at a high-single-digit rate as macroeconomic challenges and geopolitical tensions persist, the company said.<\/p>\n

In the first quarter, Adidas reported an operating profit of \u20ac60M, above expectations, while revenues declined 1% to \u20ac5.27 billion.<\/p>\n

“Q1 ended a little better than we had expected with flattish sales and a small operating profit of \u20ac 60 million. Sales growth, excluding Yeezy was 9%. Great double-digit growth in Latin America and Asia-Pacific and slight growth in EMEA despite Russia were in line with our plan,” said Adidas CEO Bj\u00f8rn Gulden.<\/p>\n

While Adidas’ total revenues in Greater China were down 9%, the company said it achieved double-digit sell-out growth.<\/p>\n

Despite the positives, Gulden warned that “2023 will be a bumpy year with disappointing numbers.” He explained that maximizing the company’s short-term financial results is not its goal this year, which will be “a transition year to build a strong base for a better 2024 and a good 2025 and beyond.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. adidas AG (ADDYY) rises as Q1 results better-than-expected, but CEO cautious of ‘bumpy year’ Adidas\u00a0AG (OTC:) shares rallied Friday after reporting better-than-expected and revenue in the first quarter, despite the adverse impact of the company ending its Yeezy partnership with rapper Kanye West. Even so, Adidas said it continues to expect to report […]<\/p>\n","protected":false},"author":1,"featured_media":5160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-5159","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nAdidas rises as Q1 results better than expected, but CEO cautious of 'bumpy year' | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. adidas AG (ADDYY) rises as Q1 results better-than-expected, but CEO cautious of 'bumpy year' Adidas\u00a0AG (OTC:) shares rallied Friday after\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=5159\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adidas rises as Q1 results better than expected, but CEO cautious of 'bumpy year' | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. adidas AG (ADDYY) rises as Q1 results better-than-expected, but CEO cautious of 'bumpy year' Adidas\u00a0AG (OTC:) shares rallied Friday after\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=5159\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-07T00:21:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-07T00:21:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEC0K08U_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=5159#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=5159\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Adidas rises as Q1 results better than expected, but CEO cautious of ‘bumpy year’\",\"datePublished\":\"2023-05-07T00:21:48+00:00\",\"dateModified\":\"2023-05-07T00:21:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=5159\"},\"wordCount\":249,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=5159#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=5159\",\"url\":\"https:\/\/ifintechworld.com\/?p=5159\",\"name\":\"Adidas rises as Q1 results better than expected, but CEO cautious of 'bumpy year' | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-07T00:21:48+00:00\",\"dateModified\":\"2023-05-07T00:21:49+00:00\",\"description\":\"\u00a9 Reuters. adidas AG (ADDYY) rises as Q1 results better-than-expected, but CEO cautious of 'bumpy year' Adidas\u00a0AG (OTC:) shares rallied Friday after\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=5159#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=5159\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=5159#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Adidas rises as Q1 results better than expected, but CEO cautious of ‘bumpy year’\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Adidas rises as Q1 results better than expected, but CEO cautious of 'bumpy year' | iFintechWorld","description":"\u00a9 Reuters. adidas AG (ADDYY) rises as Q1 results better-than-expected, but CEO cautious of 'bumpy year' Adidas\u00a0AG (OTC:) shares rallied Friday after","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=5159","og_locale":"en_US","og_type":"article","og_title":"Adidas rises as Q1 results better than expected, but CEO cautious of 'bumpy year' | iFintechWorld","og_description":"\u00a9 Reuters. adidas AG (ADDYY) rises as Q1 results better-than-expected, but CEO cautious of 'bumpy year' Adidas\u00a0AG (OTC:) shares rallied Friday after","og_url":"https:\/\/ifintechworld.com\/?p=5159","og_site_name":"iFintechWorld","article_published_time":"2023-05-07T00:21:48+00:00","article_modified_time":"2023-05-07T00:21:49+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEC0K08U_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=5159#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=5159"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Adidas rises as Q1 results better than expected, but CEO cautious of ‘bumpy year’","datePublished":"2023-05-07T00:21:48+00:00","dateModified":"2023-05-07T00:21:49+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=5159"},"wordCount":249,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=5159#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=5159","url":"https:\/\/ifintechworld.com\/?p=5159","name":"Adidas rises as Q1 results better than expected, but CEO cautious of 'bumpy year' | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-07T00:21:48+00:00","dateModified":"2023-05-07T00:21:49+00:00","description":"\u00a9 Reuters. adidas AG (ADDYY) rises as Q1 results better-than-expected, but CEO cautious of 'bumpy year' Adidas\u00a0AG (OTC:) shares rallied Friday after","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=5159#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=5159"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=5159#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Adidas rises as Q1 results better than expected, but CEO cautious of ‘bumpy year’"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/5159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5159"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/5159\/revisions"}],"predecessor-version":[{"id":5161,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/5159\/revisions\/5161"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/5160"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}