Adidas upbeat for year end despite pandemic resurgence

A man carries Adidas shoeboxes near the Adidas store, as the spread of the coronavirus disease (COVID-19) continues, in Berlin, Germany

German sportswear firm Adidas expects sales to return to growth in China in the fourth quarter and predicted a similar level of sales decline overall as it reported in the third when it saw a rebound from earlier coronavirus lockdowns.

Adidas said third-quarter sales fell a currency-neutral 3% to 5.964 billion euros ($7.05 billion), while operating profit fell 12% to 794 million euros, ahead of average analyst forecasts for 5.91 billion and 723 million respectively.

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