FRANKFURT — Shares of Adidas Superstar sale online
, the German sportswear maker, plunged 13 percent on Thursday after the company said hello would miss its profit targets for the year, partially as a result of problems coupled to the crisis in Ukraine. Still, the net income warning was another indication with the close economic ties between Germany and Russia. Also it indicated that the crisis in Ukraine can have an impact beyond the force and industrial companies that were considered most susceptible to sanctions against Russia and reduced trade.
Net profit for that year is predicted to be 650 million euros, or about $870 million, Adidas Superstar Online said, in comparison with a previous target of €830 million to €930 million. The corporation, located in the Bavarian capital of scotland - Herzogenaurach, said earnings had suffered with the decline in the value of the Russian ruble as well as the effect that the crisis in Ukraine had had on consumer sentiment and customers’ willingness to waste.
Herbert Hainer, the chief executive of Adidas Superstar Sale, accepted a number of the blame for the disappointing performance. “We have not executed to our high standards continually or provided enough flexibility to react in adverse market conditions,” he said in the statement. “This we now tackle directly.” A sharp decline in sales with the company’s TaylorMade-adidas golfing wear and equipment unit also contributed to flagging profit, Adidas said. Adidas said hello would significantly reduce offers to enhance the variety of shops in Russia “to reduce risk and protect profit.”
The net income warning comes only weeks after Canada Adidas Superstar seemed to be the important corporate winner in the soccer World Cup. In addition to being a lead backer with the event, Adidas sponsored the winning German team along with the runner-up, Argentina. "Adidas may be the most visible brand undoubtedly on the globe Cup final," said Chief Executive Herbert Hainer, who had predicted a Germany-Argentina final ahead of when the 2 teams beat Nike-backed Brazil as well as the Netherlands within the semis.
