Adidas overestimated the Russian market
23.10.2013 4710

Adidas overestimated the Russian market

Adidas has lowered its annual forecast for its financials. The revenue was hit by fluctuations in exchange rates and interruptions in the operation of the new logistics center in Russia. According to Adidas CEO Herbert Heiner.

The reasons were also the company's own mistakes, difficulties in the IT sector, and insufficient qualifications of Russian employees. "All of this together has led to the fact that for several weeks now we have not been able to ensure the shipment of goods from the warehouse in the right amount," said Mr. Heiner.

Be that as it may, the Russian market is of great importance to the company. Almost 900 sporting brand stores are open in our country, and revenue is over 1 billion euros.

Adidas has lowered its annual forecast for its financials. The revenue was hit by fluctuations in exchange rates and interruptions in the operation of the new logistics center in Russia. According to the general ...
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