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Record year at Adidas

Adidas had record results in 2018 with sales up 8% and net profit up 20% year on year to €1.7bn (£1.5bn).

The brand had double-digit sales growth in the North America, greater China and online.

Operating margin increased 1.1 percentage points to 10.8% for the year.

The company’s gross margin increased 1.4 percentage points to 51.8% as a result of better pricing, channel and product mix and lower input costs.

For 2019, the group expects sales to increase 5% to 8% and net profit to increase 10% to 14%.

Adidas CEO Kasper Rorsted said: “We have made great strides forward and are confirming our 2020 financial ambition. Our strategic growth drivers – adidas North America, China and ecommerce – once again delivered double-digit growth. In 2019, we will continue to drive the execution of ‘creating the new’ to deliver another year of quality top-line growth and overproportionate bottom-line improvements.”

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