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