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Adidas has predicted that its sales will decline by 40 percent in the second quarter, as the impact of the coronavirus takes hold.
The German sportswear giant on Monday reported a 19 percent decline in net sales for the first quarter from the year before to 4.75 billion euros ($5.16 billion), as 70 percent of its stores worldwide closed as a result of the Covid-19 pandemic.
Its first-quarter net income was 26 million euros, down 96% from the same period last year, and Adidas said that owing to uncertainty over the duration of store closures, it would be unable to offer a full-year outlook at present.
