Adidas momentum continues with 7% sales growth

Quick Summary:

Preliminary results for the third quarter also showed that, excluding Yeezy sales from this year and last, currency-neutral revenue surged 14%.

Operating profit, which was already expected to hit 1 billion euros, is now projected to reach 1.2 billion euros, though the company noted there would be no more profit contributions from Yeezy.

But the retailer was able to dodge an annual operating loss and much worse financial results thanks to its decision to sell off pieces of the Yeezy inventory over time.

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Article Details

Author / Journalist: Cara Salpini

Category: EconomyBusiness

Markets: United States

Topics: Revenue Sales Company Yeezy Year America Brand Euros Adidas Billion Results

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 12:03:00 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 614 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 23090792

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