Adidas’s sales in China rebounded quicker than expected after lockdown restrictions were lifted, nurturing hopes that the world’s second-largest sportswear maker can begin to overcome a collapse in global demand.
While the Nike rival warned investors in April that it would take several months until sales in China were back to last year’s level, it disclosed on Thursday that last month’s sales in the region were already higher than in 2019. “Overall revenue growth in Greater China turned positive for the month of May,” the company said in a statement.
“After the earlier-than-expected return to growth, Adidas now expects Greater China sales for the second quarter to be around the prior year-level,” it added.
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