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Adidas lowers 2022 expectations amid China lockdowns

05/06/2022

Less than a minute

2022.05.06 09:07

Adidas lowers 2022 expectations amid China lockdowns
A woman wearing a face mask walks past a banner advertising new Adidas store, as the country is hit by an outbreak of the novel coronavirus, in Beijing, China February 20, 2020. REUTERS/Tingshu Wang/Files

BERLIN (Reuters) – Adidas (OTC:ADDYY) on Friday lowered expectations for 2022 revenue and net income targets as renewed COVID-19-related lockdowns in Greater China continued to hit the German sportwear company.

The company now expects to come in at the lower end of its 2022 forecast for an 11-13% increase in currency-neutral sales as well as for net income from continuing operations of between 1.8 and 1.9 billion euros.

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05/06/2022

Less than a minute