Adidas' China business activity falls 85% due to coronavirus
) both said on Wednesday that the coronavirus outbreak was hurting their business in China due to store closures and fewer Chinese tourists traveling and shopping in other markets.
Adidas said in a statement that its business in the Greater China area had dropped by about 85% year-on-year in the period since Chinese New Year on January 25. Adidas sells its products from about 12,000 stores in China, most of them franchises plus less than 500 own-operated stores.
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