Adidas sales in China return to growth while UK sales remain doubtful

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Adidas trading update lockdown covid-19
Adidas is due to provide more details with results on August 6
// Adidas reports return to growth in greater China following a Covid-19 lockdown
// The sportswear retailer had anticipated a 40% drop in second-quarter sales

Adidas has reported a faster-than-expected growth in sales in greater China as stores continued to reopen in the country post-lockdown.

While Chinese sales returned to growth, the business awaits for sales to return to normal in Europe and US as stores are due to reopen this month.

The sportswear giant said in April that it expected a 40 per cent drop in second-quarter sales as well as a drop in second-quarter operating profit of more than €100 million (£88.3 million).


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Adidas is due to provide more details with results on August 6.

While traffic to its stores in greater China stayed below that of last year in May, that was more than offset by a rise in how much shoppers were spending and a surge in ecommerce sales, leading to an overall increase in revenue for the month.

Adidas said it now expected second-quarter sales for the region to be around the same as last year.

Three quarters of its stores had reopened in Europe, although most have been operating at reduced hours.

About half in Russia are open again, but fewer than half its stores in the Americas are back in business.

Meanwhile, stores have remained closed in the UK since March 23 but are due to reopen in England from June 15.

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