Despite sitting nearly $3 billion below Nike in total North American Q1 revenue, adidas is hot on the trail of the Swoosh. The German sportswear company reported a 21% increase in North American revenue for the first quarter of 2018.
adidas reported 15% growth in the Asia-Pacific region, and 17% growth overall, according to SGB Media. Sales in emerging markets declined five percent, while currency-neutral rates had the company at 10% total growth. However, the company increased its revenues 10% (currency-neutral) and 1.9% in Euro to €5.5 billion ($6.6 billion USD). adidas CEO Kasper Rorsted was positive about the company’s growth in the first quarter.
“We had a successful start to the year that was fully in line with our expectations: Our high quality top-line growth was driven by our strategic focus areas North America, Greater China and e-commerce,” said Rorsted in a statement. “At the same time, we managed to grow the bottom line significantly faster than the top line while continuing to invest into creating brand desire.”
On the contrary, competing sportswear companies Nike and Under Armour reported Q1 losses. Nike reported a 6% loss, while Under Armour reported a more minute 1% loss.
adidas expects sales to increase at a rate of around 10% on a currency-neutral basis, driven by double-digit growth in North America and Asia-Pacific, according to the company’s outlook for 2018.
Impossible is nothing!
Off topic, but I want that thick sole in the pic on more boost shoes. The regular one they use with the nubs wears down a little too fast for me.