Adidas AG’s strategic focus on e-commerce and the North American and Chinese markets contributed to the company’s 10% currency-adjusted growth in sales (2% in euros) in the first quarter of 2018.
“The results are fully in line with our expectations,” says CEO Kasper Rorsted. “We succeeded in increasing profits significantly faster than sales, although we continued to invest in increasing the attractiveness of our brands.”
Sales of the adidas brand grew 11%, with running, football, training and Originals achieving double-digit growth. E-commerce was its fastest growing sales channel, increasing 27% from the same period in 2017.
Reebok sales, however, dropped 3% due to a lower demand for the training and running categories.
Strong sales growth in China (26% currency-adjusted) and North America (21%) contributed to the positive results for the company. In Western Europe, sales grew 5%.