Adidas Expects Profit Rebound
Sportswear retail giant - Adidas reports an expected rise in profits in Q3, following its devastating plunge in the second quarter as the majority of stores were closed as a result of pandemic lockdowns.
The second quarter had ended up a disaster for the German firm, as it saw an operating loss of 333 million euros, a whole 290 million over analysts expectations. Sales figures, to be fair, have fallen a little more in line with expectations - down 3.579 billion euros, against the expected 3.3 billion.
An improvement in operating profit of over 1 billion euros is expected for Q3, which will hopefully grant the Adidas stock a much-needed uplift.
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