Global Analysis from the European Perspective. Preparing for the world of tomorrow

Adidas says business activity in China has tanked roughly 85% due to coronavirus

  • Since Lunar New Year on Jan. 25, Adidas said a “pronounced traffic reduction within the remaining store fleet” had seen business activity tumble roughly 85% when compared to the same period a year earlier.
  • Separately, German sportswear maker Puma reported that the coronavirus had “negatively impacted our business since the beginning of February.”
  • It comes at a time when many in the sporting goods industry are deeply concerned about the potential economic impact of China’s fast-spreading virus. Source CNBC

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