Adidas closes 'significant' number of China stores over virus
FRANKFURT AM MAIN, Germany – German sportswear giant Adidas said Wednesday, February 5, it was closing a "significant" number of its stores in China over the deadly new coronavirus, and warned it expects further impacts on its operations in the country.
The outbreak that has infected over 24,000 people and killed nearly 500 in mainland China has forced many stores and factories to close and airlines to cancel flights. (READ: Novel coronavirus hits Chinese push into India auto market)
Following in the footsteps of United States rival Nike, Adidas announced "the closure of a significant number of our own stores in the country."
Many of its franchises were doing the same, the Bavarian firm added.
Adidas has around 500 of its own stores in China and some 11,500 outlets in franchise stores.
"We can confirm that we are currently experiencing a negative impact on our operations in China," the statement added.
"However, at this point in time it is too early to assess the magnitude of this impact."
Nike on Tuesday, February 4, also said it expected the worsening outbreak of the virus to have "a material impact" on its Chinese business. (READ: China's stuttering economy braces for impact of deadly virus) – Rappler.com