Adidas sees $1.2 billion sales hit as supply snags drag on
November 10, 2021
German sportswear company Adidas warned on Wednesday of a 1 billion euro ($1.2 billion) hit to sales from factory closures in COVID-hit Vietnam and supply chain bottlenecks that it expects to affect business into next year.
Shares in the company fell more than 5% as it became the latest multinational to report manufacturing disruptions and shipping delays as the global economy rebounds from the worst effects of the pandemic. ETRetail