Adidas sales soar in key markets
By Ben Stevens - Nov 10th 2017, 13:47
Sportswear giant Adidas has seen group revenues across all but one of its markets grow over the last quarter.
Overall revenues grew by 12 percent to thanks to strong performance in running, outdoor, originals and neo categories. Online also performed strongly seeing revenue growth of 39 percent.
The brand saw significant growth in key markets North America and China, celebrating a sales jump of 31 percent and 29 percent respectively.
However, the picture was not entirely rosy as sales in Russia slipped 17 percent, while its Reebok brand struggled, growing just one percent.
“The company’s strategic growth areas – North America, Greater China and eCommerce – were again the main drivers of our strong top-line performance during the third quarter,” chief executive Kasper Rorsted said.
“We are even more pleased with the quality of our growth, which is clearly reflected in the exceptional profitability improvement in Q3. We delivered another set of strong results and are fully on track to achieve our ambitious 2017 financial targets.”Retail Gazette
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