Adidas Q1 Profit Weak, Sees FY22 Results At Low End Of View; Stock Down

Shares of Adidas AG were losing around 6 percent in the morning trading in Germany after the sportswear maker reported Friday weak profit in its first quarter with relatively flat sales hurt by challenges on both supply and demand. Further, the company confirmed fiscal 2022 outlook for revenue and net income at the lower end due to the impact from covid-19-related lockdowns in Greater China.

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