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Adidas Powers Ahead Against Nike With Second Quarter Growth

The German sportswear giant reported another quarter of bumper sales growth in North America and China, as it took market share from Nike and Under Armour.
Source: Adidas
By
  • Reuters

BERLIN, Germany — German sportswear firm Adidas AG reported another quarter of bumper sales growth in North America and China on Thursday as it took market share from rivals like Nike and Under Armour.

Adidas, which had already announced preliminary second-quarter results and raised its 2017 guidance last week, said sales grew 28 percent in China and 26 percent in North America.

Overall, sales rose a currency-neutral 19 percent to €5.038 billion, with the core Adidas brand growing 21 percent while sales at the Reebok fitness brand were up 5 percent.

By Emma Thomasson; editor: Maria Sheahan.

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