Adidas spends to hurdle supply chain challenges, Puma leaps ahead

Cons. Discr. - Apparel 432 Earnings 626 Quote Watch 394 U.S. 5064

Adidas reported Q1’21 revenue growth of 20.2% year over year in Q1’21 despite “industry-wide supply-chain challenges”. The firm’s CFO, Harm Ohlmeyer, noted that “freight rates are already up significantly and might see further increases given the container shortages that we have seen” though the firm is still willing to pay those higher costs to ensure deliveries to customers. U.S. seaborne imports linked to Adidas climbed 17.3% year over year in Q1’21 before rising by 11.0% in April. The latter was however still 13.7% below the same period of 2019. Adidas’s rival Puma grew more quickly,...

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