The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
HERZOGENAURACH, Germany — Adidas AG posted second-quarter revenue and profit that beat analyst expectations on growth in America and Asia that got a boost from the World Cup.
Revenue adjusted for currency swings rose 10 percent to 5.26 billion euros ($6.1 billion), driven by a 12 percent gain at its namesake shoe brand, the Herzogenaurach, Germany-based company said in a statement Thursday. Analysts on average predicted 5.17 billion euros.
Adidas saw double-digit growth in North America, Asia-Pacific, Latin America and Russia. It also reiterated a forecast for 10 percent currency-adjusted sales growth this year.
“We delivered another strong quarter on the back of a successful World Cup activation,” chief executive Kasper Rorsted said in the statement.
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Adidas is riding the wave of “athleisure” wear, benefiting from increased popularity of athletic apparel worn outside of gyms and tracks, along with a push for healthier lifestyles and a rising middle class in China.
Adidas shares are down 1.5 percent in the past year, compared with gains of more than 15 percent for Puma SE and 34 percent for Nike Inc.
By Richard Weiss in Frankfurt; editors: Eric Pfanner, Phil Serafino and Marthe Fourcade.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.