On the 13th local time, the German sporting goods manufacturer Adidas announced its fourth quarter and full-year financial reports for 2023. Affected by high inventory problems at U.S. sportswear retailers, Adidas suffered an annual loss for the first time in more than 30 years. Sales in North America this year are expected to be The amount may fall again.
The financial report released on March 13 shows that Adidas’ global revenue in 2023 will be 21.427 billion euros, which will be the same as in 2022 after excluding the impact of exchange rate fluctuations. However, the company’s net loss in 2023 was 58 million euros, its first loss since 1992. The financial report also shows that excluding the impact of exchange rate fluctuations, Greater China’s full-year revenue last year was 3.19 billion euros, a year-on-year increase of 8.2%. Among them, revenue in the fourth quarter was 670 million euros, a year-on-year increase of 36.8%.
Adidas expects that the company’s global revenue growth will remain in single digits in 2024, but revenue growth in Greater China and Latin America will reach double digits. In addition, North American market performance will continue the weak trend in 2023 due to high inventories and declining demand.
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