.adidas is doubling down on innovative footwear and apparel for running, football, outdoors and training.
Adidas said Thursday it would double down on innovative footwear and apparel for running, football, outdoors and training — and is sanguine about people returning to the office this fall.
The group is now forecasting net income of 1.4 billion to 1.5 billion euros versus prior guidance of 1.25 billion to 1.45 billion euros. Revenues in Latin America more than tripled, up 230 percent, while Asia Pacific grew 66 percent. Adidas cited “extended lockdowns” in the Asia Pacific region among factors for the relatively modest gains. Second-quarter tallies there were 10 percent below 2019 levels.
As reported, the group plans to divest the Reebok brand, so all income and expenses of the Reebok business are reported as discontinued operations as of the first quarter. Rørsted lauded the return of major sporting events, noting that more than 20 Adidas athletes at the 2020 Summer Olympics in Tokyo have already taken home a gold medal, including Alexander Zverev, Katie Ledecky and Jonathan Brownlee wearing its Adizero Adios Pro.
During the call, Rørsted revealed that Rupert Campbell would become president of Adidas North America effective Jan. 1. He succeeds Zion Armstrong, who decided to leave the company at the end of this year to reunite with his family in New Zealand.
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