Adidas takes 1Q hit, expects 2Q to be worse
April 27, 2020
Adidas reported a 19 percent decline in net sales for the first quarter as 70 percent of its company-owned stores were closed as a result of the novel coronavirus pandemic. The athletic wear company is forecasting a 40 percent drop in sales during its second quarter. CEO Kasper Rorsted expects that Adidas’ business will rebound quickly once stay-at-home orders are relaxed in the U.S. and other countries. “The personal exercise, as soon as people are allowed to go outside, I think that will grow very quickly because having spent six, eight, 10 weeks inside, I think that desire to go out and move is going to be quite outspoken,” he said.
Recent News
Kentucky Derby Celebration Spots in Las Vegas and Goldbelly Home Delivery
Las Vegas, though miles away from Louisville, gears up for the Kentucky Derby with a range of special offerings. From viewing parties to themed cocktails, the city joins the celebration of the sesquicentennial Run for the Roses. If you’re a resident of Kentucky, you can get Ready for the Kentucky Derby with Goldbelly.
New Nintendo Theme Park to Open in Orlando
It’s set to open in 2025.
Novo Noradisk Announces $6B Investment in Ozempic, Wegovy Amid Shortages
The money will help meet increased demand for the drugs.
EV Battery Tax Credit Rules Change in the US
The U.S. government has made some tweaks to electric vehicle (EV) tax credits, possibly paving the way for more EVs to qualify for credits of up to $7,500. These tax credits range from $3,750 to $7,500 for new EVs, with a $4,000 credit available for used ones.