The topic “coronavirus” is far from over. A few days ago, Nike and adidas already closed stores in China to protect customers as well as employees from the risk of an infection. At the same time, rival brand PUMA has also closed a few stores and wants to work against the spread.
Everyone is aware that the corona virus not only affects people, but also daily business. Sporting goods manufacturers will have to expect massive losses in the Asian region. This is mainly due to store closures and the decreasing number of tourists.
PUMA and adidas are therefore now warning investors of a temporary decline. adidas has already reported a staggering 85% year-on-year sales loss in China. PUMA is nevertheless continuing on a more positive path. The brand is trending towards the estimated targets they have set for 2020. However, sales are already currently below average.