Adidas net sales up 3% to €5.7B in Q3

Wednesday, 10. November 2021 07:33

Adidas AG reported on Wednesday that its net sales in the first quarter of 2021 amounted to €5.7 billion, rising 3% compared to the same quarter last year and coming in slightly below expectations.

IFRS net income attributable to shareholders soared 76% to €960 million, while net income from continuing operations fell 10% to €479 million. Diluted earnings per share (EPS) from continuing operations declined from €2.58 in the third trimester of 2020 to €2.34 this year, while diluted EPS from continuing and discontinued operations jumped 77% to €4.94.

"With sports taking back center stage this summer, we delivered a very successful quarter. Driven by the strength of our brand and better-than-expected demand for our products, we saw an acceleration in our top- and bottom-line," CEO Kasper Rorsted stated. "Sales in our strategic growth markets EMEA and North America almost doubled. Revenues in our key categories Football and Outdoor even grew at triple-digit rates," he added.

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Author:
Baha Breaking News (BBN) / NP