#Retail & Brands

Adidas announces preliminary third quarter results and increases full year guidance

adidas today announced preliminary results for the third quarter of 2023. In Q3, currency-neutral revenues increased 1% versus the prior year level. In euro terms, the company’s revenues declined 6% to € 5.999 billion (2022: € 6.408 billion). The company’s gross margin improved 0.2 percentage points to 49.3% in Q3 (2022: 49.1%). Operating profit reached € 409 million during the quarter (2022: € 564 million), reflecting an operating margin of 6.8% (2022: 8.8%). While the company’s performance in the quarter was again positively impacted by the sale of parts of its remaining Yeezy inventory, the underlying adidas business also developed better than expected.

Consequently, the company has updated its full year guidance: adidas now expects currency-neutral revenues to decline at a low-single-digit rate in 2023 (previously: decline at a mid-single-digit rate). At the same time, the company’s underlying operating profit – excluding any one-offs related to Yeezy and the ongoing strategic review – is now anticipated to reach a level of around €100 million in 2023 (previously: around break-even level).



Including the positive impact from the two Yeezy drops in Q2 and Q3, the potential write-off of the remaining Yeezy inventory of now around € 300 million (previously: € 400 million) and one-off costs related to the strategic review of up to € 200 million (unchanged), adidas now expects to report an operating loss of around € 100 million in 2023 (previously: loss of € 450 million). 



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#Recycling / Circular Economy

Responsible Textile Recovery Act of 2024 signed by Governor

Senator Josh Newman (D-Fullerton) is proud to announce that Senate Bill 707 (SB 707), the Responsible Textile Recovery Act of 2024, has been signed into law by the Governor of California, Gavin Newsom. This groundbreaking legislation establishes the country’s first Extended Producer Responsibility (EPR) textile recycling program, marking a significant step forward in the state’s efforts to combat waste and promote sustainability.

#Textiles & Apparel / Garment

Modtissimo promotes sustainability with 28 coordinates in the Green Circle

Modtissimo is proving more and more to be a textile and clothing show that delivers the latest innovations in the area of sustainability, with the iTechStyle Green Circle being the main showcase for companies' creations. In this 60+4 edition, taking place on 12 and 13 September, 28 coordinates will be exhibited in a section organised by CITEVE and curated by Paulo Gomes.

#Europe

The EU and Egypt team up to mobilise private sector investments at Investment Conference and sign a Memorandum of Understanding underpinning €1 billion in macro-financial assistance for Egypt

At the EU-Egypt Investment Conference, co-organised by the EU and the Government of Egypt on 29-30 June, the EU and Egypt are teaming up to intensify private sector investments in Egypt. They are also signing a Memorandum of Understanding (MoU) for the disbursement to Egypt of up to €1 billion in Macro-Financial Assistance.

#Raw Materials

New meta-study highlights that hydrolysis prevents the formation of persistent PLA microplastics in the environment

A systematic review of published scientific literature conducted by HYDRA Marine Sciences finds that in the presence of water or humidity, the bioplastic polylactic acid (PLA) will fully hydrolyze, and no persistent nano- or microplastics will remain or accumulate in the environment.

More News on Retail & Brands

#Sustainability

GORE-TEX® KIDSWEAR launches innovative membership scheme for kids’ jackets

With its revolutionary new membership model, GORE-TEX® Kidswear now offers families a simple, flexible and sustainable way of kitting out their children in top-quality jackets. It is aimed at the parents of children aged between five and ten and kicks off with a choice of functional winter jackets.

#Sustainability

H&M Foundation funds pioneering initiative to build the factories of the future

The H&M Foundation is committing SEK 53 million (approx. EUR 5 million) towards Future Forward Factories, a five-year initiative led by Fashion for Good, to address fashion’s most polluting stage: tier 2 textile processing.

#Natural Fibers

Better Cotton Initiative marks World Cotton Day with launch of innovative product label

The Better Cotton Initiative (BCI) has launched an innovative product label for the fashion and textile sectors which allows retailer and brand members to provide consumers with greater clarity about the origin and percentage of BCI Cotton in their products.

#Retail & Brands

Levi Strauss & Co. appoints Chris Callieri as Chief Supply Chain Officer

Proven leader brings depth of supply chain experience to support agility and sustainability - Levi Strauss & Co. (LS&Co., NYSE: LEVI) announced the appointment of Chris Callieri as senior vice president and chief supply chain officer, effective September 15.

Latest News

#Heimtextil 2026

Heimtextil 2026 strengthens the global home textile industry with trends, designs and AI technologies

With an optimised hall layout, progressive design collaborations, inspiring trends and AI-driven innovations, Heimtextil 2026 reacts to the current market situation – and offers the industry a reliable constant in challenging times. Under the motto ‘Lead the Change’, the leading trade fair for home and contract textiles and textile design shows how challenges can be turned into opportunities. From 13 to 16 January, more than 3,100 exhibitors from 65 countries will provide a comprehensive market overview with new collections and textile solutions. As a knowledge hub, Heimtextil delivers new strategies and concrete solutions for future business success.

#Research & Development

The Textile Institute marks 100 years with a global expansion drive

Fresh from its highly successful 63rd conference held in Porto, Portugal, from October 7-10, The Textile Institute (TI) will celebrate a major milestone at the ITMA Asia+CITME textile machinery exhibition in Singapore later this month.

#Nonwovens

Freudenberg accelerates local production for apparel market by expanding its site in India

Freudenberg Performance Materials Apparel (Freudenberg Apparel) celebrates the grand opening of a major expansion at its manufacturing facility in Chennai, India, on October 14, adding 20,000 square feet of production space and introducing new production lines tailored to the Indian apparel market. This strategic investment is aimed at significantly reducing lead times and enhancing the availability of high-quality, locally produced interlinings for the fast-evolving apparel sector in India and South Asia.

#Man-Made Fibers

Eastman Naia™ launches Sustainability Progress Report and 2025-2030 Sustainability Goals at Textile Exchange Conference, reaffirming commitment to circular innovation

At the Textile Exchange Conference 2025, Eastman Naia™ released its 2025 Sustainability Progress Report and announced its 2025–2030 Sustainability Goals, presenting a record of genuine progress and outlining a renewed roadmap for the years ahead. This announcement demonstrates Naia™’s long-standing commitment to driving an industry-wide shift toward sustainability through scalable, commercially viable material solutions.

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