'Our results for the first quarter speak the serious challenges that the global outbreak of coronavirus poses even for healthy companies,' said Kaspar Rorsted,ceo.
'At the moment, we are focused on managing the current challenges and doubling down on the recovery in China and the opportunities we see in e-commerce.'
Ignoring the effects fo currency changes, revenue was down 19% in the quarter because of store closures. At the same time online sales were up 35% but this only partly offset the store closures.
In March sales were down 45% in the Asia Pacific region; in Greater China they were down 58% or EUR 800m.
As stores in the region started opening in late March, they started closing in other parts of the world. Until the closures happened, Adidas had recorded 8% sales growth outside Asia Pacific.
China's performance has improved week-by-week in April and global e-commerce channels are on track to grow faster in April than the 55% growth in March, said the firm.
At pixel, 70% of the company's stores worldwide are closed. Consequently, the company said, sales and profit in Q2 are likely to be hit harder than the first quarter numbers. For the full year, sales could be down by 40% and there could be a loss instead of an operating profit, warned the company.