Adidas Expects Coronavirus to Take $1 Billion Out of Its China Sales
The spreading COVID-19 coronavirus epidemic has disrupted the economies of a number of countries, with China among those hardest-hit. And while there are signs that the crisis is starting to abate in that country, the business impact of the outbreak will be felt there for months to come.
That's why Adidas (OTC: ADDY.Y) has essentially left its 2020 forecast open. The company says it expects its revenues will grow by 6% to 8% in 2020 -- but acknowledges that its numbers have not factored in the potential headwinds of the coronavirus epidemic.
Adidas has seen sales fall in China due to coronavirus. Image source: Adidas.
Source Fool.com