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Cost of COVID-19? Adidas Could Swallow $1B in Lost China Revenue

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Adidas Group is staring down a billion-dollar black hole as the coronavirus pandemic could pulverize Greater-China revenue this year. In a Nutshell: Adidas revealed how closing a significant number of stores and reduced traffic are weighing on business in Greater China, noting it has experienced “material negative impact” since the outbreak of COVID-19, which has infected…

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