A man walks past an Adidas shop window where a model is dressed in sport outfit with English soccer club Arsenal’s logo, in Beijing, December 16, 2019. — Reuters pic
Competitor Puma said “business in China is heavily impacted due to the restrictions and safety measures implemented by the authorities.”Adidas said it faced “a significant number of store closures” in its network of 500 owned stores and 11,500 franchises in China, while fewer people are shopping at those which remain open.
Despite the novel coronavirus’ spread to some other countries in the region, “we have not yet observed any major business impact outside of Greater China,” Adidas said.
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