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Adidas sees $1.2 billion sales hit as supply snags drag on

November 10, 2021

German sportswear company Adidas warned on Wednesday of a 1 billion euro ($1.2 billion) hit to sales from factory closures in COVID-hit Vietnam and supply chain bottlenecks that it expects to affect business into next year.

Shares in the company fell more than 5% as it became the latest multinational to report manufacturing disruptions and shipping delays as the global economy rebounds from the worst effects of the pandemic. ETRetail