Adidas released its full-year earnings this morning and had to "settle for growth slightly lower than its own predictions" even after "knocking its guidance down throughout last year." Net sales over the course of 21 grew 16% after the company had originally "predicted between 17 and 18 percent." The company’s sales revenues have "not yet returned to pre-pandemic levels." In Q4, sales "fell 3 percent." Problems included an "ongoing consumer boycott of Western-made goods in China, pandemic-related lockdowns and the resulting supply-chain issues." In North America, "revenues rose 16.6 percent" (WWD.com, 3/9).
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