Adidas’ Top Line Takes €350 Million Currency Hit
The thundering euro decimated Adidas’ reported numbers in what was otherwise an outstanding first quarter, with net income attributable to shareholders growing 13% to €482 million ($567 mm) from €428 million on 7% higher revenues of €6,592 million ($7,755 mm), up from €6,153 million that would have been up 14% constant currency. Without the anchor of Yeezy sales in the comparable quarter and Reebok long gone, The Big a’s numbers represent solely the Adidas brand for the first time in years. Wholesale revenues increased 2% to €4,084 million, but the big ... Log in to view full article.