Investing

Adidas seals turnaround year with strong fourth-quarter sales By Reuters

Published

on

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)



Read the full article here

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Exit mobile version