OREANDA-NEWS  On Wednesday, July 30, at the beginning of trading, shares of the world-famous sportswear brand Adidas fell by nine percent. This was reported by Bloomberg.

It is noted that this was the biggest drop since April 7. This time, the collapse came after the company promised weaker-than-expected revenue growth due to concerns about U.S. duties. Over the past 12 months, the company's shares have fallen by 23 percent.

Adidas still expects to generate an operating profit of between 1.7 and 1.8 billion euros this year. This is below the analysts' average forecast of two billion euros. The company estimates that additional tariff-related costs could amount to 200 million euros in the second half of this year.

At the end of April, Adidas warned that new US duties would lead to higher prices for its popular Samba and Gazelle sneakers. According to the company's CEO, Bjorn Gulden, at that time it could not produce virtually any of its products in the United States. It turned out that there are not enough factories in the United States with specialized equipment for the production of sneakers and workers who could work there.