Adidas Says Q2 Underlying North America Sales Rise 

An Adidas sneaker is seen on display at the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30, 2024. (Reuters)
An Adidas sneaker is seen on display at the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30, 2024. (Reuters)
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Adidas Says Q2 Underlying North America Sales Rise 

An Adidas sneaker is seen on display at the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30, 2024. (Reuters)
An Adidas sneaker is seen on display at the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30, 2024. (Reuters)

Adidas said on Wednesday its second-quarter revenues in North America, excluding sales of the Yeezy line, increased from last year, driven by growth in both wholesale and its own retail.

Including Yeezy, the currency-neutral sales in North America - Adidas' second-biggest market behind Europe - fell by 8% to 1.3 billion euros ($1.51 billion) in the April to June period.

"The decline was solely related to the significantly smaller Yeezy business," the company said in a statement, without specifying how much the sales increased excluding the product line.

In a turnaround led by CEO Bjorn Gulden, Adidas has sought to clear remaining Yeezy stock after a bruising break-up with rapper Kanye West, who goes by Ye, while striving to boost its brand through its popular retro styles.

Its quarterly currency-neutral sales rose 19% in Europe to 1.9 billion euros, from 1.6 billion euros a year earlier.

Adidas had hiked its full-year guidance for the second time this year and reported preliminary second-quarter results above expectations in mid-July.



Shein Faces 150-mn-euro Fine in France

FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo/File Photo
FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo/File Photo
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Shein Faces 150-mn-euro Fine in France

FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo/File Photo
FILE PHOTO: A view of a Shein pop-up store at a mall in Singapore April 4, 2024. REUTERS/Edgar Su/File Photo/File Photo

E-commerce giant Shein faces a possible 150-million-euro ($175-million) fine in France for failing to properly get consent to track users on the internet.

The regulator, the CNIL, faulted the fast-fashion retailer for using trackers called cookies that enable for targeted advertising to users without their approval as required in Europe, or for using a confusing method to get consent.

It also found during a 2023 inspection that when users refused the tracking cookies Shein continued to read information from them.

Given the firm has the technical and staff resources necessary to comply with the regulations its behavior was negligent, said CNIL.

Shein had recently complied with the regulations, it added.

A final decision on fining the fast-fashion giant should come within weeks.

Shein called the proposed amount of the fine "disproportionate", in a statement sent to AFP.

"Since August 2023 we have actively worked with the CNIL to ensure our compliance and respond to their queries," the China-founded firm said.

This additional possible fine from the CNIL follows a record 40 million-euro penalty it received last week from France's competition and anti-fraud office over "deceptive commercial practices" by misleading customers on price deals and on its environmental impact.