Adidas warns of a sales decline in 2024 due to an overstocked market in North America.
- The company’s CEO, Kasper Rorsted, acknowledges that excess inventory has impacted sales growth.
- Adidas plans to take measures to address the overstock issue, including discounting and product returns.
- The decline in sales is expected to be more significant in the first half of 2024.
- The overstock situation is primarily attributed to the disruption caused by the COVID-19 pandemic.
- Adidas aims to rebalance its inventory levels to ensure a healthier supply-demand equilibrium.
- The company remains optimistic about future growth opportunities, particularly in the e-commerce sector.