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


© Reuters. Kasper Rorsted is Adidas CEO as he watches the festivities for the German sports apparel manufacturer Adidas’ 70th Anniversary at their headquarters in Herzogenaurach on August 9, 2019. REUTERS/Andreas Gebert/Files

BERLIN, (Reuters) – After first quarter results that were slowed by the lockdown in Greater China, Kasper Rorsted (OTC:) said that Adidas’ 2025 goal has not changed.

Rorsted stated that it is possible to see a drop of double-digits in sales in the market in 2022. However, a quick recovery in China is not likely. He also predicted that there would be strong growth in this market in the future.

He said that there was no negative effect on consumer willingness to purchase from Ukraine’s war.