Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Adidas posts Q2 sales and profit growth

Sportswear giant Adidas has reported that its net income for the second quarter of the year has jumped by 16% to €347m (£310m) compared with Q2 2016.

Its operating profit grew 18% to €505m (£451m) during the quarter, while sales rose 20% to €5bn (£4.5bn).

Meanwhile currency-neutral revenue increased 19%, which the company said comprised growth of 21% at the Adidas brand and 5% at the Reebok brand.

Adidas added growth was particularly strong in Greater China, where its business was up 28%, in North America, where it rose 26%, and in Western Europe, where sales increased 19%.

The retailer said it now expects sales to rise between 17% and 19% on a currency-neutral basis during the 2017 financial year. Operating profit is forecast to grow between 24% and 26%, while net income is predicted to increase at a rate between 26% and 28% to around €1.4m (£1.3bn).

However, it added the upward trends will “partly offset the significant decline in other operating income”, reflecting the “non-recurrence” of a one-off payment related to Chelsea FC’s shirt sponsorship.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.