May 06, 2022 2:37 PM
GENEVA (BLOOMBERG) – Adidas cut its profitability targets for this year and forecast a plunge in revenue from China due to lockdowns. The company said Friday (May 6) supply bottlenecks in Vietnam have reduced the availability of products, eroding sales. A fifth of the shoemaker’s business is underperforming amid whirlwind of geopolitical challenges.
