--Adidas Chief Executive Kasper Rorsted said that though it can be trusted that the Chinese market will bounce back, company goals might have to be adjusted in case Covid-19 remains a problem in China, German paper Handelsblatt reports, following an interview with Mr. Rorsted.

--The executive said that the company has made some mistakes in China, though lockdowns in the country were the main culprit for Adidas's slip in revenue, according to the interview.

--According to Mr. Rorsted, Adidas didn't understand Chinese consumers well enough, thus leaving an open way to local competition, Handelsblatt reports.

--Adidas shares trade 3.3% down at EUR169.28.

 

Full story in German: https://bit.ly/3JGAo6C

 

Write to Cecilia Butini at cecilia.butini@wsj.com

 

(END) Dow Jones Newswires

August 09, 2022 11:58 ET (15:58 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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