Adidas sales growth weighed down by Chinese boycott of Western brands

Adidas already saw online sales return to growth in China in June.

Adidas felt the impact of a Chinese boycott of Western brands on its second-quarter results and is also suffering from the closure of factories in major supplier Vietnam due to rising Covid-19 infections.

The German sportswear company still raised its outlook for full-year sales and profitability as it said it has seen demand recover in China since calls for a boycott in late March, and said it hopes to restore production in Vietnam soon.