Adidas, a German manufacturer of clothing and sports goods, reported sales and profits on Wednesday above expectations in the first quarter, mentioning growth in all its markets and channels.
The operational profit of the first quarter increased by 82%to 610 million euros, according to the group, with a margin of 9.9%. Analysts, in a consent provided by the company, expected a margin of 8.9% and a profit of 546 million euros.
The success of the company’s tennis, including the Samba and Gazelle models, has contributed to Adidas to capture a greater market share of their American Nike rival and maintain a competitive advantage than new sports clothing brands such as the race and hoka in times of uncertainty.
The company’s sales in the first quarter increased by 13%to 6.15 billion euros, above the consent of 6.095 billion billions, said Adidas, adding that, excluding the sales of the Yeezy line a year earlier, the quarterly revenues of the Adidas brand increased by 17%.
Listed in Frankfurt, the Adidas shares, which plans to reveal its complete outcome of the first quarter of April 29, increased by about 6% in the afternoon.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
