CORONAVIRUS: ADIDAS, OTHERS SHUT DOWN STORES IN CHINA

The information reaching us confirmed that Merchants are now shutting down their stores in China because of the negative effect Coronavirus is throwing at their businesses. It was gathered that Coronavirus in China is heavily affecting businesses as claimed by merchants.

Among the merchants, Adidas on Wednesday announced her temporarily shutting down a considerable number of its stores in China due to the Coronavirus outbreak.

The German sportswear company Adidas has about 12,000 outlets in China including Franchise Stores. Adidas claims their sales growth slow to 11 percent in China in the July – September period from 14 percent in the second quarter.

As reported by Reuters, the company said the fast-spreading virus is having a negative impact on its business but added that it could not yet assess to what extent.

Several retailers have warned that Coronavirus is taking its toll, including Nike Inc and Hugo Boss, which have both closed some stores in China. Adidas German rival Puma also confirmed the closure of their stores saying that factories will remain closed until February 10.

“We have so far not been informed of any production or shipment delays. A number of stores – both owned and operated and partner stores – remain closed for the time being due to local regulations”, a Puma spokesman said.

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