Adidas CEO says no change to 2025 goals after Q1 hit by lockdowns

1 min read
Adidas CEO Kasper Rorsted looks on as he attends the celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach

BERLIN – Adidas’ Chief Executive Kasper Rorsted said nothing had changed on the German sportswear company’s 2025 goals, after first-quarter results were dogged by lockdowns in Greater China.

Rorsted said that a double-digit sales drop in that market is possible in 2022, as a sudden recovery in China is unlikely, but he predicted strong growth in that market again in future.

He added that the war in Ukraine was not having a negative impact on consumers’ willingness to buy.

(Reporting by Alexander Huebner, Writing by Miranda Murray; Editing by Paul Carrel)