Adidas said profits were stronger than expected in the first quarter, highlighting a divergence in fortunes among leading sportswear brands amid heightened global trade tensions.
Operating profit at the German group nearly doubled to €610mn, up from €336mn for the same period a year earlier and ahead of analysts’ forecasts of €546mn. Revenues rose 13 per cent at constant currencies to €6.1bn, marking the strongest first quarter for sales in its history.
“Double-digit growth across all markets and channels in today’s volatile environment shows the strength of our brand,” chief executive Bj?rn Gulden said on Wednesday.
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