Updates

Latest Entries

Adidas and Puma sales collapse in China amid coronavirus outbreak

By Zoe Wood

Sportswear brands say disruption is spreading with major sporting events in doubt

Adidas and Puma have reported a collapse in sales in China as a result of the coronavirus outbreak and warned disruption was spreading to other markets.

Adidas said its first-quarter sales would be down by as much as €1bn (£870m) in Greater China and about €100m in Japan and South Korea. The slump would lead to a €400m-€500m hit to operating profit, it said.

Continue reading…

Via:: https://www.theguardian.com/world/2020/mar/11/adidas-and-puma-sales-collapse-in-china-amid-coronavirus-outbreak