Strong U.S., China Momentum Lifts Adidas Results
While there are clear signs that the strength in Europe is starting to flag, the continued momentum in North America and China has more than offset that as Adidas reported a 19% increase in net income to €542 million ($650 mm) against €455 million as sales rose 2% in nominal terms and 10% currency neutral to €5,487 million ($6,650 mm) from €5,447 million, for the first quarter ended Mar. 31. The increase was led by 21% currency neutral growth in North America and 15.1% currency neutral growth in China, offset by a 16% decline in Russia currency neutral and a ... Log in to view full article.