Adidas has stated that sales have returned to growth in Greater China than it had expected after Covid-19 lockdown in May. Throughout last month Adidas continued to action its store reopening plan around the globe.
Store traffic remained below the prior year level in May, targeted efforts to revitalize retail have led to sequential improvements since stores reopened. The traffic shortfall was more than offset by an increase in conversion rates and the exceptional growth in the company’s e-commerce business. As a result, overall revenue growth in Greater China turned positive for the month of May.
