Adidas’ Core Brand Sales Outperform, but U.S. Lags
Net income increased by 4% in the third quarter to €461 million ($536 mm) from €443 million as The Big a confirmed that revenues grew 3% to €6,630 million ($7,709 mm) from €6,438 million, up 8% constant currency, in line with last week’s preannouncement. Core Adidas brand sales improved 12% CC, excluding about €200 million of leftover Yeezy sales last year. The strengthening euro torpedoed reported revenues by more than €300 million, despite improving currency-neutral revenues in every region. Adidas brand own-retail ... Log in to view full article.