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Adidas losing money

23/03/2020
Sports brands Adidas has said sales in Greater China fell by 85% and that the impact of the coronavirus has already spread to other markets. 

The German brand, which last year made €5.9 billion sales in the first quarter, anticipates that first-quarter figure to drop by €1 billion, according to British newspaper The Times. The paper also reported that adidas expects operating profits to fall by €400 million to €500 million. 

Last year, adidas had annual sales of €23.6 billion.

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