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Adidas profits rocket 38% Monday, 30th April 2012
Photo credit: Adidas campaign
Adidas has today said it has beaten market expectations with a 38 per cent increase in first-quarter profits and has subsequently increased its financial outlook for the year.
The sportswear retailer reported a preliminary net income of EUR 289 in the three months to 31 March.
Adidas sales in the period increased 17 per cent to EUR 3.8 billion.
“Our first-quarter performance confirms the outstanding brand momentum and global power of the Adidas group,” stated Herbert Hainer, the company’s chief executive officer. “Our investments in brands and channels are yielding an unprecedented period of growth for the group, as we continue to excite consumers and customers with the ultimate in product and brand experiences.”