by finca3eo
Key Points:
- Quarter revenue drops 19%
- Net Income declines 97% to 20Mil
- Operating margin down 1.4%
- 2020 Outlook: Negative Operating Profit and 40% decline in sales.
- Adidas maintains 1.975B on its balance sheet
Stock rallied 4%
- https://www.adidas-group.com/media/filer_public/dc/77/dc776afe-d148-4e5b-a0a5-169c564d1b46/adidasag_q12020results_final_en.pdf
- https://www.adidas-group.com/media/filer_public/6e/6a/6e6a09d6-adb0-4050-82f5-a050277822c5/fact_sheet_q1_2020_en.pdf
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