EXEC: Adidas Group Doubles Q2 Profits on Double-Digit Sales Growth X-Yeezy

July 31, 2024

Adidas Group CEO Bjørn Gulden reported that the second quarter was another that confirmed the company’s improvement and progress toward becoming healthy again.

Gulden noted that consumers and retailers continue showing strong and increased interest in the Adidas brand and products. He said this was “clearly reflected” in the 16 percent growth for the underlying Adidas business, excluding Yeezy, in the quarter and growth across all channels and markets.

In euro terms, total revenues grew 9 percent to €5.82 billion in the second quarter, compared to €5.34 billion in the year-ago Q2 period, as currency developments led to an unfavorable translation impact. SGB Media