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Adidas Issues Profit Warning Amid China Lockdown Woes

  • German sneaker maker’s shares fall despite growth in the West
  • Yet rival Puma boosted by golf and basketball, lifts forecast
An Adidas store Shanghai, China.

An Adidas store Shanghai, China.

Photographer: Qilai Shen/Bloomberg
Updated on

Adidas AG issued a profit warning after its sales were hit by lockdowns and consumer boycotts in China, offsetting strong momentum in its key western markets. 

The German sneaker company said although its second-quarter results are “somewhat ahead of expectations” with strong growth in Western markets, the recovery in Greater China was slower than expected.