adidas’ first quarter revenues have risen 14 per cent to €3.8 billion – the company’s fifth consecutive quarter of double digit growth.
Group operating profit grew 30 per cent to €409 million.
Sales in Western Europe rose seven per cent, jumped 26 per cent in China and Asian markets, and 11 per cent in North America.
“Our first quarter performance confirms the outstanding brand momentum and global power of the adidas Group,” says Herbert Hainer, adidas Group CEO.
“Our investments in brands and channels are yielding an unprecedented period of growth for the group, as we continue to excite consumers with the ultimate in product and brand experiences.”
adidas said that full year sales are now expected to grow at a rate approaching 10 per cent (previously mid to high single digit).
adidas reports ‘irregularities’ at Reebok unit in India: http://www.bbc.co.uk/news/business-17892602
