Adidas exceeds growth expectations and confirms outlook

Sportswear manufacturer Adidas performed better than expected in the first quarter, confirming its outlook. Revenue rose by over 7 percent to approximately 6.6 billion euros (7.72 billion dollars), the company announced on Wednesday in Herzogenaurach. On a currency-neutral basis, Adidas achieved 14 percent growth.

The company registered strong demand, particularly in its own sales channels. In contrast, growth in the wholesale sector was weaker. Adidas stated it is not currently selling “excessive quantities” to its partners to keep price reductions under control, as the retail sector is increasingly relying on discounts due to the uncertain consumer environment.

Operating profit increased by 15.5 percent to 705 million euros, despite headwinds from currency effects and tariffs. Analysts had anticipated lower figures for both revenue and operating profit. Profit attributable to shareholders improved by 12.6 percent to 482 million euros.

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