On 27 April, the company posted a 19% decline in net sales to EUR 4.7 billion for Q1 of 2020, after the COVID-19 outbreak bought sales to a near standstill in some parts of the world. According to Business Insider, Adidas emphasised the importance of ecommerce acceleration in its business model and it plans to strengthen this area.
Adidas’ Q1 net income fell 97% versus the same period in 2019 to EUR 20 million, impacted by significant revenue declines in China since the end of January as well as in Japan and South Korea at the end of March.
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