Adidas (ADDYY, Financial) reported a robust start to the year, with Q1 sales rising by 13% when adjusted for currency effects. Excluding the impact of Yeezy sales from the previous year, the brand's currency-neutral revenue surged by 17%, fueled by significant growth across all markets and sales channels.
The company's financial performance also showed notable improvement, with the gross margin increasing by 0.9 percentage points, reaching 52.1%. This improvement highlights the brand's strength and strategic execution amidst a challenging market landscape.
Operating profit for the quarter reached EUR 610 million, reflecting an operating margin of 9.9%. These financial results underscore the potential of the company and the effectiveness of its strategies in delivering strong performance despite global market volatility.
