Adidas In
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ADIDAS INTERNATIONAL RE LTD
China lockdowns weigh on Adidas’s first-quarter profit
German sportswear heavyweight Adidas on Friday reported a drop in its profits in the first quarter, as widespread coronavirus lockdowns hurt business in key market China.
The group's net profit from its continuing operations fell to 310 million euros ($326 million), from 502 million euros in the same quarter last year.