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Adidas’ Asia Sales Declines Wipe Out Double-Digit Gains in the West

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Though a “strategic partnership” with Foot Locker will offer Adidas a new avenue for long-term growth, Covid-related lockdowns in Asia are dampening its prospects today. Despite double-digit gains in the West, Adidas’ revenue declined in the first quarter as shutdowns dragged down sales, particularly in China. Released Friday, Adidas’ Q1 results showed revenue up 1…

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