Sportswear brands say disruption is spreading with major sporting events in doubt
The sportswear brands Adidas and Puma have both reported a devastating collapse in sales in China due to the coronavirus outbreak and warned disruption is 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 spell a €400m-€500m hit to operating profit, it said.
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