Adidas today reported an “uptick in fourth-quarter sales that exceeded expectations” after the retailer “sold off the last of its remaining Yeezy stock, but pointed to slower revenue growth in the year ahead.” Adidas recorded a 19% increase in revenues at neutral currency rates to $6.34B (€5.97B) in the three-month period ahead of the $6.11B (€5.72B) forecast. Operating profit came in at $60.9M (€57M) in Q4 compared to a loss of $402.6M (€377M) in the same period last year. In 2024, operating profit reached $1.43B (€1.34B), topping the forecast of $1.36B (€1.27B). CEO Bjorn Gulden said Wednesday’s results were “much better than we had expected” (CNBC, 3/5).
Adidas expects its namesake brand’s sales to “grow at a double-digit rate in markets including North America.” Sales growth accelerated in the region to 15% in Q4, excluding currency movements, “driven by improvements in the wholesale channel as well as the company’s own retail stores” (WALL STREET JOURNAL, 3/5).
