Another Big Boost for Adidas in Q3 Despite U.S. Delivery Bottleneck
Continued strong momentum in the U.S., China and e-commerce sales were major factors in producing a 36% improvement in net income to €526 million ($610.0 mm) from €407 million for the third quarter ended Sep. 30 as global sales rose 9% to €5,677 million ($6,583.1 mm) from €5,222 million. The results included $22 million in losses from the discontinued TaylorMade and CCM operations. North America produced a 23% sales gain where a 31% jump at the Adidas brand more than offset an indicated 25% decline at Reebok. China had the biggest increase with an impressive 28% sales gain, and e-commerce ... Log in to view full article.