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Adidas Reduces 2022 Expectations In The Middle Of China Lockdowns|Investing News

Byadmin2

May 5, 2022
tagreuters.com2022newsml LYNXNPEI4506K12022 05 06T054717Z 1 LYNXNPEI4506K RTROPTP 3 CHINA HEALTH

BERLIN (Reuters) – Adidas on Friday decreased expectations for 2022 profits and earnings targets as restored COVID-19-related lockdowns in Greater China continued to strike the German sportwear business.

The business now anticipates to come in at the lower end of its 2022 projection for an 11-13% boost in currency-neutral sales in addition to for earnings from continuing operations of in between 1.8 and 1.9 billion euros.

( Reporting by Miranda Murray; Modifying by Riham Alkousaa)

Copyright 2022 Thomson Reuters

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