The toll to the apparel sector from COVID-19 has been spreading with Adidas and Puma joining Under Armour in warning about the impact on sales in China. All three also have to contend with downstream supply chain threats to their U.S. operations. Panjiva’s data shows that 9.6% of U.S. seaborne imports linked to Adidas in 2019 came from China while for Puma the figure was 9.0% and Under Armour 14.6%. A bigger issue for all three would be an interruption to shipments from Vietnam, which so far isn’t on the cards but could be the result of U.S. tariffs rather than coronavirus. The challenge...