Adidas expects sales to fall at least 40% in second quarter

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Adidas said over 70% of its stores were currently closed worldwide, with a 35% rise in e-commerce in the first quarter only partially offsetting lost sales, which fell to 4.753 billion euros in the quarter, below average analyst forecasts.

Its operating profit fell 93% to 65 million euros, also missing analyst forecasts. Adidas said due to the uncertainties around how long its stores would stay closed, it is not able to provide an outlook for the full year.