Multiple reports of decelearing Adidas brand sales across the US wholesale channel with new collections missing QTD targets.

Multiple reports of negative and falling YOY revenue trends as new store cannibalisation, increased low cost competitors, and poor weather dents results.

Several independent reports that the 2022 Transformation project is seeing accelerated implementation with inventory days cycle reducing by 30% at large format stores in France.

Wholesale and retail buying managers report weaker order volume growth on RB stock lines despite bigger YOY promotions as local brands gain market share; most allocating less space to RB stock lines YOY.

Cash & Carry business seeing steady revenue growth despite supply chain issues as cost price increases and limited competition lift results.

Several independent reports of continued double digit YOY revenue growth, broadly accelerating on successful new collections and higher price points with most locations beating QTD targets.