Lost manufacturing capacity from Vietnam’s Q3 factory shutdown resulted in a €1 billion top line hit for Adidas, with an estimated €400 million shortfall in the final quarter of last year, and the balance affecting Q1, 2022. After an ugly start to the year where Q1 revenues drop mid-single digits, The Big a sees revenue growth accelerating to a mid- to high-teens pace in the following three quarters supported by an “extraordinarily” strong order book. Total revenues for the year are expected to grow 11% to 13% constant currency.

The black swan of Russia invading Ukraine remains a huge unknown at ... Log in to view full article.