The Financial Times has an article about the sales impact from the coronavirus. Adidas guidance is way worse than any other companies that talked about the impact during earnings so far, but we suspect it will not be the last one. As more info comes in, Q1 (and maybe beyond) could be pretty negative.
https://www.ft.com/content/473b1eeb-72a9-3da4-96bf-3f2e7e1e7b23
Companies: German sportswear makers Puma and Adidas, which generate about a third of revenues in the Asia-Pacific region, have warned of disruption in their business in China as they have closed stores there. Puma envisages a hit in the first quarter while Adidas notes an 85 per cent decline in business activity in the world’s second-biggest economy.
FYI China is 18% of sales for Adidas and 16% for NKE.