The German sporting goods manufacturer Adidas had to give up considerable ground on Wednesday in the Frankfurt trade fair after a disappointing forecast.
The German sporting goods manufacturer Adidas did good business in China and North America in 2018, just like with its online sales. This enabled Adidas to record a record turnover of almost 22 billion euros.
That is 3 percent more than a year earlier. If exchange rate effects are not taken into account, sales growth was 8 percent. According to Adidas, sales increases in China and North America were double-digit. Sales in Europe remained virtually unchanged. Online sales jumped by 36 percent to more than 2 billion euros.
Net profit from continuing operations increased by 26 percent to 1.7 billion euros. According to the Herzogenaurach company, the profit margin climbed to the highest level ever. CEO Kasper Rørsted therefore speaks of a successful year for Adidas. For this year, the company indicated a further improvement in results. The sales growth may be a little less high, according to the company.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.