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German sportswear giant Adidas reported a drop in its profits in the first quarter on Friday, as widespread coronavirus lockdowns hurt business in key market China.

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SHARE German sportswear company Adidas sees only a short-term impact from Chinese calls in March for a boycott of its products, raising its 2021 sales forecast on Friday as it expects a resumption of big sporting events to drive demand. Adidas now sees sales growing at a high-teens percentage rate in 2021, compared with a March forecast for mid-to-high teens growth, with a jump of around 50 per cent expected in the second quarter. It said the acceleration would be driven by new products such as Ultraboost running shoes that are designed to be recycled, as well as big events like the European ...

Retail & ConsumerAdidas shrugs off China boycott call to raise outlook Emma Thomasson 4 minute read German sportswear company Adidas (ADSGn.DE) sees only a short-term impact from Chinese calls in March for a boycott of its products, raising its 2021 sales forecast on Friday as it expects a resumption of big sporting events to drive demand. Adidas now sees sales growing at a high-teens percentage rate in 2021, compared with a March forecast for mid-to-high teens growth, with a jump of around 50% expected in the second quarter. It said the acceleration would be driven by new products such as Ul...

Adidas shrugs off China boycott call to raise outlook By Emma Thomasson Reuters BERLIN (Reuters) -German sportswear company Adidas sees only a short-term impact from Chinese calls in March for a boycott of its products, raising its 2021 sales forecast on Friday as it expects a resumption of big sporting events to drive demand. Adidas now sees sales growing at a high-teens percentage rate in 2021, compared with a March forecast for mid-to-high teens growth, with a jump of around 50% expected in the second quarter. It said the acceleration would be driven by new products such as Ultraboost runn...