The German sports equipment supplier said that more than 70% of its stores are currently closed worldwide. The 35% increase in online purchases in the first quarter only partially compensated for the lost sales since its turnover fell 4.753 billion euros during the quarter, well below the average forecast by analysts of 4, 85 billion.
Operating profit fell 93% to 65 million euros, a figure also well below that forecast by analysts who expected an operating profit of 263 million euros.
Adidas added that due to uncertainties about the length of its store closings, it was unable to provide full-year prospects.
The group, which said it had a cash position of 1.975 billion euros as of March 31, received approval for a loan of 2.4 billion euros guaranteed by the government on April 14 to help it cross. crisis.
On the Frankfurt Stock Exchange, the Adidas action rose in the morning by 2% 209.5 euros.
(Emma Thomasson, French version Laura Marchioro and Elena Smirnova, said by Blandine Hnault)
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