This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG2G20S_L.jpg
© Reuters. Adidas soccer shoes are pictured before the company’s news conference in HerzogenaurachMUNICH (Reuters) – German sportswear maker Adidas (DE:) on Tuesday joined rivals in announcing store closures in response to the coronavirus pandemic.
Adidas and Reebok-owned stores in Europe, North America and Canada will be closed temporarily, the company said in an emailed statement. Stores will be closed March 18-29 in Europe. In the United States and Canada they will be closed March 17-29.
“At Adidas, the health and safety of our employees, customers and partners have the highest priority,” the group said, adding that affected staff would be paid for their planned working hours despite the closures.
Rivals Nike (N:), Lululemon Athletica (O:) and Under Armour Inc (N:) on Sunday said they would close stores in the United States and other markets, joining a growing list of major retailers moving to help to limit the spread of the virus.
Adidas last week said that it expected first-quarter sales to drop by up to 1 billion euros ($1.1 billion) in greater China and to fall more than 10% overall because of the pandemic, including a drop of about 100 million euros in Japan and South Korea.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
