Adidas sales plunge 85% in China as coronavirus ravages demand
warned on Wednesday that its sales in Greater China have plummeted 85% since January 25, compared with the same period last year.
"We have been experiencing a material negative impact from the coronavirus outbreak on our operations in China," the German sportswear titan said in a statement to Business Insider. The company added that its efforts to safeguard employees and their families, as well as cooperate with Chinese authorities, have "led to a significant number of store closures ... and a pronounced traffic reduction within the remaining store fleet."
Reebok-owner Adidas also suffered traffic declines in Japan and South Korea, but hasn't yet observed a "major business impact" beyond Greater China. However, it warned that as the situation is still evolving, and it can't yet quantify the epidemic's overall impact on its business this financial year.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Adidas says business activity in China has tanked roughly 85% due to coronavirusGerman sportswear firm Adidas warned business activity in China has fallen dramatically in recent weeks.
Les mer »
Adidas, Puma warn of coronavirus hit to China businessGerman sportswear makers Adidas and Puma both said on Wednesday that the coronav...
Les mer »
Golf Legend Mickey Wright Dead At 85 After Heart AttackShe was 85 years old.
Les mer »
Women's golf legend Mickey Wright dies aged 85One of the most successful women's golfers of all time, Mickey Wright, has died at the age of 85. The American won 13 majors and 82 LPGA Tour titles to sit second on the all-time women's major list.
Les mer »
Deal alert: The Zappos Presidents’ Day sale features dramatic price drops on Adidas, Ugg, Sorel and more!Don’t feel like scrolling through pages of options? We did the leg work for you with deals on Uggs, Sorel, Naturalizer, Brooks and more.
Les mer »