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BERLIN (Reuters) – Adidas (OTC:ADDYY) on Friday lowered expectations for 2022 revenue and net income targets as renewed COVID-19-related lockdowns in Greater China continued to hit the German sportwear company.
The company now expects to come in at the lower end of its 2022 forecast for an 11-13% increase in currency-neutral sales as well as for net income from continuing operations of between 1.8 and 1.9 billion euros.
