German sportswear maker Adidas said Thursday it had returned to sales growth in China in May, after store closures due to the coronavirus pandemic sent business plummeting.

China is "the company's first major market on the road to recovery," Adidas said in a statement, saying April-June sales should reach roughly the same level as in 2019 now its shops have reopened.

While fewer people visited stores, the three-stripe brand said a bigger share of those who did come in were buying, while it had seen "exceptional" growth in online orders.

Almost all Adidas' stores in the Asia-Pacific region and emerging market economies are open again but the figure is around three-quarters in Europe.

Meanwhile "significantly" fewer than half its shops are open in the Americas, where many countries including the US, Brazil and Mexico remain hotspots for the virus.

Despite the brighter picture in some parts of the world compared with a month ago, Adidas stuck to its late-April forecast that currency-adjusted sales will likely fall more than 40 percent year-on-year in the second quarter.

The group has said it is unable to offer a full-year outlook due to the pandemic.

tgb/mfp/bmm

ADIDAS

Related Links
Global Trade News

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

China factory activity slows as global slump drags on growth
Beijing (AFP) May 31, 2020
Factory activity in China expanded at a slower pace in May as the country attempts to get back on track after the coronavirus, official data showed Sunday, with the global economic slump making the sector's recovery difficult. China's factories have stirred back to life after the lifting of strict lockdown measures imposed when the deadly virus surfaced in the central city of Wuhan, but its spread worldwide has dragged down key foreign markets - weighing heavily on Chinese exports. The Purchasi ... read more