Double-digit growth in all markets
Adidas closed the first half of the year with a 14% increase in revenue. However, after accounting for the impact of last year’s very successful Yeezy sell-offs, the growth in euros was 7%, totaling 12.1 billion euros. The growth was nevertheless evident across all markets: in Europe, revenue increased by 11%, North America recorded a rise of 14%, and Greater China grew by 13%.
With a 16% increase, wholesale activities outperformed direct sales to consumers (+12%). However, within D2C, both physical stores and e-commerce grew by double digits. Other good news is that the company’s profit is recovering as well: operating profit surged by 70% to 1.2 billion euros, resulting in an operating margin of 9.6%. Net profit more than doubled to 811 million euros.
