Thursday, 4 May 2017

Adidas shares hit a record high after firm sees sales jump

German sportswear firm Adidas has reported a big leap in sales in the US, outpacing gains by its American rival Nike.

Stripping out currency changes, Adidas sales rose by 31% in the first quarter, compared with Nike's rise of 3% for the three months to the end of February.

The boost was spurred by a marketing push in North America.

Adidas shares hit record highs on the news, before closing 0.9% higher on the Frankfurt stock market.

Sales in Greater China jumped by 31% compared with Nike's 15% rise.
Overall, Adidas saw sales rise by 16%. Net profits in the three months to the end of March were up by 30% to 455m euros (£385m).

Online sales leapt by 53%.

BBC      News.