Investing
Adidas seals turnaround year with strong fourth-quarter sales By Reuters
LONDON (Reuters) -Adidas reported what it said were better than expected preliminary fourth-quarter results on Tuesday, with strong sales and profitability for the important holiday shopping period.
The German sports equipment and apparel company said revenue was up 19% year on year in currency neutral terms while its gross margin increased by 5.2 percentage points to 49.8%.
Adidas (OTC:) reported sales of 5.956 billion euros ($6.2 billion) for the quarter, up from 4.812 billion a year ago.
For the full year, Adidas said revenue was up 12% in currency-neutral terms, hitting 23.683 billion euros ($24.7 billion). Profitability improved with the gross margin rising by 3.3 percentage points to 50.8%.
($1 = 0.9593 euros)
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