SHARE

Adidas downgrades profit target amid China slump

Adidas has seen revenues fall 3% in the first quarter, as a result of Covid lockdowns in Vietnam impacting production at factories last year. The business has also lowered its gross margin target this year, as Covid Zero policy keeps stores shut in China.

Certification Note

Certified B Corporation” is a trademark licensed by B Lab, a private non-profit organization, to companies like ours that have successfully completed the B Impact Assessment (“BIA”) and therefore meet the requirements set by B Lab for social and environmental performance, accountability, and transparency. It is specified that B Lab is not a conformity assessment body as defined by Regulation (EU) No 765/2008, nor is it a national, European, or international standardization body as per Regulation (EU) No 1025/2012. The criteria of the BIA are distinct and independent from the harmonized standards resulting from ISO norms or other standardization bodies, and they are not ratified by national or European public institutions.