Adidas to shut down retail stores as part of e-commerce strategy

Adidas CEO Kasper Rorsted said the company will shut down its retail stores as part of a strategy towards selling more goods online. Adidas aims to more than double its ecommerce sales to $4.91 billion by 2020. It has 2,500 stores globally and 13,000 additional mono-branded franchise stores, the Financial Times reported. Read the latest IT news