BERLIN (Reuters) – Adidas’ Chief Executive Kasper Rorsted said nothing had changed on the German sportswear company’s 2025 goals, after first-quarter results were dogged by lockdowns in Greater China.
Rorsted said that a double-digit sales drop in that market is possible in 2022, as a sudden recovery in China is unlikely, but he predicted strong growth in that market again in future.
He added that the war in Ukraine was not having a negative impact on consumers’ willingness to buy.
(Reporting by Alexander Huebner, Writing by Miranda Murray; Editing by Paul Carrel)