E-commerce drives growth for adidas

YarnsandFibers News Bureau 2019-08-14 10:45:00 –

Sports group adidas has reported first-half revenues of €11.4 billion, 5% up on the figure for the first half of 2018. Operating profit increased by 13% to reach €1.5 billion.

Commenting on the results, chief executive, Kasper Rorsted, said adidas had achieved double-digit increases in revenues in two areas it had targeted for strategic growth, China and e-commerce.

There was good growth, too, in North America, an increase of 11.7% to reach almost €2.4 billion. This helped compensate for a decline of 1.7% in sales in Europe, which fell to just under €3 billion. Buoyed by China, the figure for Asia-Pacific was just over €4 billion.

Mr Rorsted said the group remains confident about achieving further growth in the second half of 2019.

Courtesy: Sports Textiles

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