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Adidas CEO says no change to 2025 goals after Q1 hit by lockdowns

Published 05/06/2022, 05:12 AM
Updated 05/06/2022, 05:21 AM
© Reuters. Adidas CEO Kasper Rorsted looks on as he attends the celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/Files
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BERLIN (Reuters) - Adidas (OTC:ADDYY)' Chief Executive Kasper Rorsted said nothing had changed on the German sportswear company's 2025 goals, after first-quarter results were dogged by lockdowns in Greater China.

© Reuters. Adidas CEO Kasper Rorsted looks on as he attends the celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/Files

Rorsted said that a double-digit sales drop in that market is possible in 2022, as a sudden recovery in China is unlikely, but he predicted strong growth in that market again in future.

He added that the war in Ukraine was not having a negative impact on consumers' willingness to buy.

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