Adidas Posts $360 Million Loss But Sees ‘Light at the End of the Tunnel’
August 6, 2020
For the three months ended June 30, the sportswear giant incurred a net loss of 306 million euros, or $362 million at current exchange, compared with the prior year’s income of 462 million euros. Revenues dropped 35% to 3.58 billion euros, or $4.24 billion. During the quarter, sales through the company’s own e-commerce platform increased 93%. Read more on Footwear News.