You're reading: Business Insider: Adidas shares crash after stunning warning about Russia

Everything seemed to be going Adidas' way until the western world clashed with Russia.

“[T]he recent trend change in the Russian rouble as well as increasing risks to consumer sentiment and consumer spending from current tensions in the region point to higher risks to the short-term profitability contribution from Russia/CIS,” management said in a new statement. “As a result, Management has decided to significantly reduce its store opening plan in the market for 2014 and 2015 and to further increase the number of store closures.”

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