News Snapshot:
- A + A (May 6): Sales of sportswear giants Adidas AG and Nike Inc. plunged on China’s largest business-to-consumer e-commerce platform in April after consumers called for a boycott of international brands avoiding raw material from Xinjiang, reflecting the blow to businesses that cross Beijing’s political lines. Sales in the Adidas store on Alibaba Group Holding Ltd.’s Tmall tanked by 78% in April from a year ago, while Nike’s dropped by 59%, according to analysis done by Morningstar Inc. in a note released Wednesday. Tmall sales of Fast Retailing Co.’s clothing brand Uniqlo, which was also targeted by the...
