Adidas leading store on Nanjing Road pedestrians in Shanghai in China.
Cfoto | Future publication | Getty Images
Adidas On Wednesday, he reported that in the fourth quarter the sale that exceeded the expectations, because the seller shortens weakness in North America and China.
German giant sportswear recorded an increase in revenue of 19% per rate of neutral currency at 5.97 billion euros (6.34 billion USD) in a three-month period, on the eve of the LSEG forecast of 5.72 billion euros.
Operational profit in the fourth quarter arrived at EUR 57 million compared to a loss of EUR 377 million in the same period last year.
Adidas tries to increase its market share in North America due to falling sales in Nike, and the wider seller moves away from too much addiction to weaker China.
Adidas’ sale in North America, which in the third quarter fell 7% at the rate of neutral currency, struggled to recover from the termination of its once -tricky lines of Yeezy sneakers. The sportswear giant was forced to cover the Yeezy line after interrupting his partnership with Ye, a rapper that was previously known as Kanye West, through a series of anti-Semitic remarks that the rapper had outlined in 2022.
The company said last year that it expects to sell the rest of its inventory Yeezy by the end of 2024.
Executive director Bjorn Gulden demands that Adidas be distanced from his loss from Yeezy Line and encourages a wider turnaround of the brand since he took over the helm in January 2023.
This is the story of the news and will be updated soon.
