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Adidas expects greater economic success

April 29, 2020

60% of the sportswear manufacturer’s business is paralyzed, and more than 70% of stores worldwide are closed.

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Adidas expects greater economic successAdidas expects greater economic success

The brand of the sportswear manufacturer Adidas He warned that he would suffer a deep blow to sales and earnings in the second quarter due to corona virus-limited restrictions, and reported that 60% of his business was currently paralyzed and more than 70% of stores worldwide were closed.

E-commerce sales, which accounted for 13% of total sales last year, are growing rapidly, particularly in China, but are not enough to offset the losses from the sale of businesses.

The brand, which reopened in China, admitted that customers have returned but have not bought as much as before the crisis.

Kasper Rorsted, CEO of Adidas, admitted that he did not expect a full recovery until the end of the second quarter, adding that the pandemic had increased interest in fitness and health, so yoga mat sales had increased.

The German company warned of a possible 40% fall second quarter sales and a decline in Result operational in this period of more than 100 million euros.

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