Adidas China sales back to growth faster than expected

Signs of recovery: A pedestrian walks past an Adidas store in Beijing. While traffic to its stores in greater China stayed below that of last year in May, that was more than offset by a rise in how much shoppers were spending and a surge in e-commerce sales. — Bloomberg

BERLIN: German sportswear firm Adidas said sales had returned to growth in greater China faster than it had expected after the coronavirus lockdown, while the reopening of business in Europe and the Americas was going more gradually.

Adidas stuck by guidance it gave in April for a possible 40% fall in second-quarter sales and a drop in second-quarter operating profit of more than 100 million euros (US$112.05mil) and said it would give more details with results due on Aug 6.