--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
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(END) Dow Jones Newswires