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Adidas, Pummeled by China Lockdowns, Offers Weak Guidance

May 6, 2022

Adidas is the latest global retailer to report headwinds to its business due to lockdowns in China.

The German athletic-wear brand on Friday reported that currency-adjusted sales in Q1 dropped by 3% to 5.3 billion euros ($5.58 billion). Net income dropped 38%, to 310 million euros ($327.8 million). Footwear News