Adidas Brand Momentum Accelerates in Q2
In-line with its July 16 pre-announcement, the Big a grew sales by 9% in the second quarter to €5,822 million ($6,260 mm) from €5,343 million a year ago with solid gains just about everywhere except North America. Net income attributable to shareholders more than doubled to €190 million ($204 mm) from €84 million helped by stable gross margins and some SG&A leverage. Yeezy continued to contribute upside, adding about €50 million to operating income on €200 million in sales, but that was down from €400 million last year, causing all of ... Log in to view full article.