adidas commercial activity in China falls 85% due to coronavirus
The German-based sporting goods firm announced that its commercial activity in the Greater China region has decreased by about 85% since the Chinese New Year
German sporting goods firm Adidas announced that its business activity in the Greater China region has decreased by about 85% since the Chinese New Year, as the coronavirus outbreak resulted in the closing of stores and the drop in the flow of customers in stores that remained open.
adidas said it saw less customer traffic mainly at stores in Japan and South Korea, but added that it has yet to see a major impact on business beyond Greater China. “As the situation continues to evolve on a daily basis, the magnitude of the overall impact on our business for the year 2020 cannot yet be reliably quantified”, the company said.
Image credits: Waqar Khalid on Unsplash
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