The halt in sales in Russia cut Adidas' revenue in the 2nd quarter by 100 million euros
Quarantine in China and store closures in Russia are having a negative impact on Adidas' business. The German brand said on Thursday that currency-adjusted sales rose 4% in the second quarter, although net income fell to 360 million euros (or $367 million). Operating income fell to 392 million euros ($398 million) from 543 million euros ($553 million) in 2021.
Adidas shares rose more than 2% on Thursday morning.
Adidas CEO Kasper Rorsted said that the macroeconomic situation in China has prevented the company from recovering in this market. Just last week, Adidas cut its forecast for 2022, citing a slower recovery in China due to ongoing Covid-19 restrictions. The company said it expects revenue in Greater China to decline at a double-digit rate through 2022.
“The recovery in this market — due to ongoing COVID-19-related restrictions — is slower than expected,” Rorsted said. In Greater China, sales fell 35% in the second quarter.
In China, Adidas is looking to connect with local Chinese consumers through local marketing promotions, partnerships with Chinese athletes, and the launch of a lifestyle shoe collection designed for the domestic market.
Outside of China, Adidas has faced hurdles due to supply chain issues following restrictions imposed in Vietnam last year that impacted revenue growth of around 200 million euros ($203 million) in the second quarter. The company's decision to suspend all retail and online sales in Russia in the second quarter reduced revenue by more than 100 million euros ($102 million).
Adidas said it expects discounts to increase in the second half of the year, especially in Greater China, as the company looks to shed excess retail inventory.
Rorsted also noted a "potential slowdown in consumer spending" in other markets, which could persist until 2022.
“So far, we have not experienced a significant slowdown in sales of our products,” Rorsted said. “We have also not experienced significant bulk order cancellations in any other Greater China markets, but we clearly need to be prepared for the fact that the situation may change within of the year".
Quarantine in China and store closures in Russia are having a negative impact on Adidas' business. On Thursday, the German brand reported that second-quarter currency-adjusted sales rose 4%,…
Ralf Ringer opened an outlet in his own factory building.
Russian footwear brand Ralf Ringer announces the opening of a new flagship outlet in Moscow. This unique 500-square-meter space, located within its own factory, is located at 18 Otkrytoye Shosse, Bldg.… 14.11.2025 407
Sportmaster Group has closed its Urban Vibes retail project.
Sportmaster Group has closed its Urban Vibes retail project, which launched in 2020. All 17 stores of the multi-brand sportswear chain and the Urban Vibes online store have ceased operations. Experts believe the retail chain is not… 14.11.2025 419
Geox's revenue fell 6,2% in the first nine months to €492,8 million.
Geox's revenue for the first nine months of 2025 was €492,8 million, down 6,2% from the same period in 2024. Excluding the closure of subsidiaries in China and the US, the decline was… 14.11.2025 408
The first Casa Loewe boutique opened in Paris.
Spanish luxury brand Loewe has opened its first boutique, Casa Loewe, in France on Avenue Montaigne, Paris's most prestigious shopping street. 13.11.2025 521
Golden Goose is being acquired by Chinese company HSC – HongShan Capital for 2,5 billion euros.
Negotiations that could lead to the transfer of luxury sneaker brand Golden Goose from its current controlling shareholder, British fund Permira, to Chinese fund HSC – HongShan Capital are nearing completion, writes… 12.11.2025 960
PETER KAISER - the best brand of 2025!
"CAPRICE Schuhproduktion GmbH has received a certificate for awarding PETER KAISER the title of "Top Brand 2025".
Soho Fashion: 20 years of sustainable growth in a changing world. Exclusive interview with founder Jacob Tresckow
In the context of global changes in the fashion retail market, many distributors have faced serious challenges. SOHO Fashion is one of the few companies that has not only maintained its business, but also found new growth points. On the eve of the company's 20th anniversary, its founder Jacob Treskov told Shoes Report about the path taken, the lessons of the crises and plans for the future.
Shoes Style is back on the cutting edge! Interview with the finalist of the international competition of shoe and accessory designers Egor Sorokin
On May 14, the annual International Competition of Footwear and Accessories Designers Shoes-Style was held again in Moscow. The competition, which has been organized for many years by the A.N. Kosygin Russian State University, presents collections of students from universities, colleges, and technical schools that train in the field of design and construction of footwear and accessories.
Salvatore Ferragamo's Shoes Inspire Pastry Chefs
Italian confectioners have created cakes that are exact copies of six legendary pairs of shoes from the archives of the Italian "Shoemaker to the Stars" maestro Salvatore Ferragamo. They were presented in the 10_11 restaurant of the Milan hotel Portrait Milano, which is part of the hotel management company owned by the Ferragamo family.
How Pareto's Law Works in a Shoe Retail Store
Analysis of the company's performance is an important quality of a manager. Many indicators in the retail business are subject to analysis, primarily - sales planning and inventory balances, KPI performance by employees, the effectiveness of marketing campaigns, the number of sellers, their work schedules and many other factors that affect the final result of the store. In this material, SR expert on increasing sales in shoe retail Evgeny Danchev, using the Pareto principle, understands the reasons why revenue and volumes of goods sold are distributed very unevenly between weekdays and weekends. The author is confident that the Pareto principle is indispensable in the systemic analysis of sales management efficiency and sales results. But it is important to apply it correctly and interpret its meaning.
Clarks: 200 years of quality, style and innovation
In 2025, the legendary British brand Clarks celebrates its 200th anniversary – an impressive milestone that demonstrates its enduring relevance, impeccable quality and global appeal.recognition of the brand. Since its foundation in 1825, the company has not only created shoes, but also set the standards for comfort and style, remaining a symbol of British craftsmanship and innovation.
The cyclicality of fashion and its impact on the financial results of the fashion business
Stylists and experts never tire of telling both professionals and ordinary consumers of goods and services in the fashion industry that fashion develops cyclically. The cyclicality of fashion has a significant impact on the financial results of the fashion business, since it dictates periods of demand and decline and determines which goods will be in demand at a certain moment. SR expert in assortment planning and management Emina Ponyatova talks about which aspects of the cyclicality of fashion should be taken into account by shoe retailers in their work, and how they affect the financial performance of the business.
Euro Shoes – on a new premium platform!
The leading international footwear exhibition Euro Shoes premiere collection will be held from August 27 to 30, 2025 at a new premium venue in Moscow - the Congress Center of the World Trade Center on Krasnopresnenskaya Embankment.
Main trend themes for footwear and bags collections for the fall-winter 2025/26 season
Whatever aesthetics your collection adheres to - craft heritage, elegant minimalism inspired by traditions or, conversely, futuristic forms - if your customer strives to be fashionable and you need to regularly update your assortment with current trendy novelties, pay attention to the design trends, models and details of women's shoes and bags in the fall-winter 2025/26 season described in this article. To prepare it, the author used materials from the international trend bureau Fashion Snoops, which is a source of commercial forecasts for the seasons ahead, and current trend analytics of key events in the fashion industry around the world: industry exhibitions, shows, shows.
How to preserve a retail business in the fashion market in the era of marketplace hegemony?
The fashion segment has become the leader in e-commerce on the Russian market in the last few years. And, of course, this trend has affected the financial results of offline retail stores, which have suffered significant losses in revenue and profit. Not every retail business can withstand price wars with marketplaces, and with each new sales season, the fight for customers will only intensify. SR expert on increasing sales on the fashion market Evgeny Danchev talks about what can be done in such a tough situation and what effective strategies to use to save a retail business.
How a fashion brand can get into ChatGPT recommendations
Experts say ChatGPT could become a shoe search tool and even a style consultant. According to a report from Dutch payment company Adyen on retail, more than a third of shoppers worldwide are already using AI.
Shoe factories in Russia are closing one after another
The shoe industry in Russia is in a severe crisis situation. A number of Russian shoe manufacturers have announced the cessation of their activities this year.
Heading towards Moscow - development of the MASCOTTE chain in a new concept
The brand of shoes, clothing and accessories Mascotte continues to actively develop the network in a new concept. Updated spaces appeared in Moscow in the VEGAS KASHIRSKOE shopping center on the 1st floor (area more than 300 m²) and the Vesna shopping center on the 1st floor (area more than 400 m²). By the end of 2024, openings are planned in the Botanica Mall mixed-use complex on the 1st floor (area more than 400 m²) and in the ODIPARK shopping center on the 1st floor (area more than 300 m²). In 2025, the brand plans to continue to expand its network of branded salons in a new concept through consistent and methodical openings in new shopping centers and rebranding of current salons with relocation to larger areas.
Global footwear production down by 1,5 billion pairs in 2023
According to statistics from the World Footwear Yearbook 2024, the annual analytical bulletin of the Portuguese Footwear Association, global footwear production fell by 6% last year to 22,4 billion pairs. And global footwear exports decreased by 9,1% year-on-year, to 14 billion pairs, writes Worldfootwear.com.
MUNZ Group: Five common mistakes when searching for line personnel
Mistakes in personnel selection are costly for companies. The time spent on searching, the investment of money in organizing recruitment and the lack of salespeople in the store increase the value of each correctly selected employee and increase the cost of an error. Munz Group HR Director Ekaterina Ananenkova talks about the most common mistakes.
We are waiting for you at the Euro Shoes exhibition on August 26-29
The international exhibition of footwear and accessories Euro Shoes premiere collection starts in Moscow next Monday. Euro Shoes will be held in the capital's Expo Center from August 26 to 29 in alliance with the leading international clothing exhibition CPM Moscow. In one place and on the same dates, both exhibitions will bring together a large number of visitors, buyers and fashion industry professionals from Russia and the CIS countries.
Making the right diagnosis. 10 ways to quickly identify your customers' "pains"
Have you ever thought about how your offer on the website of an online store, on marketplaces is perceived by the buyer? How deeply and well do you know the needs of your target audience and the fears of your customers? SR expert in digital marketing and creating a unique brand selling proposition Tatyana Vasilyeva answers these questions and also gives recommendations on how to avoid typical mistakes in the product card, how not to make a description, photos and videos, and how to avoid unnecessary expenses in the design of your product.
EXTR4 - a new shoe brand from Italy at the EURO SHOES exhibition
Imagine a world where the barriers between urban style and athletic performance disappear, where shoes become more than just an accessory, but an integral part of your personality and lifestyle. This is the world of EXTR4, a new shoe brand from Italy created for men and women who live active, full lives.
Five fashionable models of men's shoes: forecast for the autumn-winter season 2024/25
Trend analysts and fashion trend forecasters have already formulated their concepts of what will be worn in the next cold season, having analyzed hundreds of looks from dozens of shows at fashion weeks in Milan, London, New York and Paris. Fashion Consulting Group trend expert Maria Shchennikova has prepared a checklist of fashionable shoes especially for SR. In the previous issue, we gave a selection of five trendy models of women's shoes for the fall-winter 2024/25 season. And in this issue, we will tell you about five trendy models of men's shoes: updated oxfords, loafers with decor, shoes with straps (very reminiscent of the women's model of Mary Jane shoes), minimalist boots, wallabee boots. The article is based on materials from the global online trend bureau FashionSnoops.com.
A fashion buyer's checklist will expand your capabilities in creating an assortment for a shoe store
On the eve of the purchasing season, the buyer’s main task is to prepare for the formation of a new assortment. If we pass this stage efficiently, then we increase the efficiency of our work by at least 2 times, reduce the risk of outsider models appearing in the collection and increase overall liquidity and the share of hits. SR expert on purchasing and sales in the fashion business, Elena Vinogradova, shares recommendations based on her extensive practical experience as a fashion buyer, and has also compiled a checklist especially for readers of the magazine to assess your readiness to purchase a new collection.
Difficulties in recruiting personnel and how to deal with them
Many managers believe that by providing decent wages and good working conditions, potential employees will come to work on their own, and each of them will become an excellent salesperson. Unfortunately, this is not the case: applicants come reluctantly, and in most cases, none of them are suitable for the position of salesperson. Therefore, personnel selection requires a professional approach. SR expert in the field of fashion business management and development Maria Gerasimenko talks about the employee selection algorithm and non-standard methods of searching and interviewing candidates.
Shoe educational program: what shoe soles are made of
“What is the difference between TEP and EVA? What does tunit promise me? Is PVC glue? What is the sole of these shoes made of? ”- the modern buyer wants to know everything. In order not to smash his face in front of him and be able to explain whether such a sole suits him in soles, carefully read this article. In it, process engineer Igor Okorokov tells what materials the soles of shoes are made of and what makes each of them so good.
How to set prices that will earn
Some businessmen still confuse the concept of margin with the concept of trade margins and set prices for their goods, guided solely by the example of competitors. No wonder they go broke! Analyst at the Academy of Retail Technologies Maxim Gorshkov gives several tips and formulas with which you can set not only ruinous, but also profitable prices.
Sales of shoes and accessories: effective techniques for business rhetoric
Which speech modules are effective in communicating with potential and current customers of shoe stores, and which are not, Anna Bocharova, a business consultant, knows.
We form the salary of sellers: expert advice
“How do you charge your consultants for personal or general sales?” Is one of the most popular questions causing a lot of controversy and gossip on the online forums of retail business owners. Indeed, how to properly form the earnings of sellers? But what about bonuses, where to get a sales plan from, do employees allow them to buy goods at discounted stores? In search of truth, the Shoes Report turned to a dozen shoe retailers, but no company wanted to disclose its motivation system - the process of its development was too complicated and individual. Then we asked four business consultants, and finally became convinced that the topic of seller motivation is very complex, because even our experts could not come to a common opinion.
Technology Selling Issues
There is nothing worse than meeting the buyer with the words “Hello, can I help you with something?”, Because the seller works in the store just to help. Criticizing this well-established pattern of communication with the buyer, Andrei Chirkarev, business coach for effective sales and the founder of the New Economy project, shares the technology of truly selling issues with readers of Shoes Report.
The whole truth about Bayer. Who is he and how to become one?
Bayer is no longer a new, but still a popular and sought-after profession. It’s fashionable to be a buyer. Buyers are at the origins of the emergence and development of trends. If the designer offers his vision of fashion in the season, then the buyer selects the most interesting commercial ideas. It is on buyers that the policy of sales of stores and what, in the end, the buyer will wear depends on. This profession is surrounded by a magical fleur, often associated with a lack of understanding of what exactly is the work of a buyer.
Fur, and not only: types of lining
In the production of winter footwear, various materials are used that are designed to retain heat and meet the requirements of consumers: natural sheepleather, artificial fur, artificial fur from natural wool and others. All types of lining fur have their own advantages and disadvantages. Let's consider the properties of each of them.
The best models of Czech shoes of the past
In Soviet times, for shoes from Czechoslovakia sold under the Cebo brand, customers stood in line for four hours and did not regret it, because Czech shoes were considered to be of high quality, comfortable and fashionable. Shoe designer Juraj Shushka shared a photo archive of his collection with Shoes Report magazine, which contains the most interesting Cebo models from the 1940's to the 1980's.
Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
How to fire a worker without tears, scandal and trial
Sooner or later, any manager is faced with the need to part with an employee. Properly and on time the dismissal procedure will save the company money, and the boss himself - nerves and time. But why sometimes, knowing that a break in relations is inevitable, we put off the decision for months?
