Adidas has sold 85 percent less goods compared to last year in the period since Chinese New Year. It was announced by the company on last Wednesday. Sales have been fallen as a result of the NCOV-19 outbreak. German company sold less because many stores were closed due to the virus outbreak.
Another German sports equipment seller, Puma, also has problems with business in Asia because of the outbreak. Puma has temporarily closed more than half of its stores in China. Puma is also suffering in this period of time from declining tourism. Company is expecting of lower income in first quarter.
In addition, stores that are still opened attract much fewer customers. For example, Chinese consumers buy fewer goods outside and the country receives fewer tourists because of the corona virus.
In addition to the troubles in China, Adidas also says that sales in neighboring countries such as Japan and South Korea are shrinking due to the virus fears. It’s huge loss for Adidas, because it sells a third of its stuff in Asia.