Adidas predicts profit rebound after pandemic hit

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Adidas reported a second-quarter operating loss of 333 million euros ($395.60 million), worse than the 290 million expected by analysts on sales down 35% to 3.579 billion euros, ahead of analyst consensus for 3.3 billion.

The company said its sales were flat for the quarter in China, where it saw double-digit growth in May and June. Its outlook for the third quarter implies an improvement in operating profit of around 1 billion euros from the second.

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