Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
An Adidas flagship store on Pedestrian Street in Nanjing Road in Shanghai, China.
Cfoto | Future publication | Getty images
Adidas On Wednesday, an increase in sales of the fourth quarter that exceeded expectations, since the retailer shakes the weakness in North America and China.
The German sportswear giant registered an increase in 19% revenue at neutral currency rates to 5.97 billion euros ($ 6,34 billion) in the three -month period, before the prognosis of 5.72 billion euros by LSE analysts.
The operational profits reached 57 million euros in the fourth quarter compared to a loss of 377 million euros in the same period last year.
Full -year sales increased 12% at neutral rates in foreign exchange to 23.7 billion euros, compared to the anticipated 23.5 billion euros. Operational profits totaled 1.34 billion euros in 2024, compared to the forecast of 1.27 billion euros.
The figures advanced with the company’s own guide, increase In October, for an income growth of the whole year of around 10% to neutral rates in foreign exchange and operational profits of around 1.2 billion euros.
The Bjorn Gulden CEO described the results of Wednesday as “much better than we expected.”
“Although we are still where we want to be in the long term, it was a very successful year that confirmed the strength of the Adidas brand, the potential of our company and what fantastic work is our teams. We still have a lot to improve, but I am very proud of what our people achieved in 2024,” he said in a statement.
Adidas is trying to increase its market share in North America in the midst of decline sales in Nike and a wider retailer moves away from excessive dependence on a weaker China.
Adidas sales in North America fell 1.6% to neutral currency rates in 2024, after having fought to recover from the completion of its Yeezy Shoes line and once lucrative. The sportswear giant was forced to eliminate the Yeezy line after finishing his association with Ye, the rapper previously known as Kanye West, about a series of anti -Semitic comments that the rapper made in 2022.
The company said Wednesday that the rest of its Yeezy inventory had sold in the fourth quarter.
Gulden has been looking to distance Adidas from his Yeezy line that makes losses and has caused a broader change of the brand since he took the helm in January 2023.
This is a last minute news and will be updated shortly.