The first quarter of 2017 proved to be an excellent one for German sports brand Adidas. Turnover grew nearly 20 % and profit did even better with a 30 % increase, mainly thanks to strong performances in North America and China.
“Strong start”
North American turnover grew 35.8 % and Chinese turnover followed suit, with a 29.9 % increase. The entire group posted an 18.9 % turnover growth to 5.67 billion euro.
These positive results also boosted the company’s net profit nearly 30 % from 351 to 456 million euro.
“We had a strong start into the year. Our major brands Adidas and Reebok as well as all of our key markets posted double-digit sales increases,” said Adidas CEO Kasper Rorsted. “As consumer demand for our products was strong across the world, we were again able to significantly improve our profitability despite ongoing currency headwinds.”
The Adidas brand’s sales grew 20 % to 4.8 billion euro and Reebok posted an 18.5 % turnover increase to 492 million euro in the first quarter. Adidas’ golf brand, TaylorMade, also achieved a 7 % turnover increase to 294 million euro.
