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Adidas CEO says no change to 2025 goals after Q1 hit by lockdowns

05/06/2022

Less than a minute

2022.05.06 12:40

Adidas CEO says no change to 2025 goals after Q1 hit by lockdowns
Adidas CEO Kasper Rorsted looks on as he attends the celebrations for German sports apparel maker Adidas’ 70th anniversary at the company’s headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/Files

BERLIN (Reuters) – Adidas (OTC:ADDYY)’ 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.

05/06/2022

Less than a minute

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