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Article Date: April 2024
Word Count: 715

Adidas' Recovery Lags in North America


Reporting first quarter results that were in line with its pre-announcement earlier this month, The Big a’s bottom line swung to a profit of €170 million ($185 mm) from a loss of €39 million, as revenues improved 3% to €5,458 million ($5,933 mm) from €5,274 million. Sales of leftover Yeezys contributed around €150 million during Q1, and also added to profits, though the remaining €200 million in inventory will be sold around breakeven through the rest of 2024, the company said. Constant currency sales grew 8%, or 5% excluding Yeezy.

 

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