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Adidas CEO says no change to 2025 goals after Q1 hit by lockdowns
2022.05.06 12:40
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.
