adidas Continues to Dominate Sales, Competitors Left in the Dust
How can Nike and Under Armour catch up?
German sportswear manufacturer adidas announced its 2016 year-end earnings on Tuesday and all evidence points to a dominating performance. CEO Kasper Rorsted said the company had an “exceptional year” — reported sales climbed 18% to $20.4 billion USD and North America saw a 24% climb to $3.6 billion USD. “We have improved the desirability of our brands and products around the globe. As a consequence, we were able to increase revenues strongly and achieve a record net income of more than 1 billion euros for the first time in the history of our company,” said Rorsted. Further evidence of adidas’s dominance over competitors was given by Daniel Roberts via Twitter where the Three Stripes’ stock price (pictured below) is shown growing 67% over the last year.
A forecasted increase in sales between 11% to 13% for 2017 will only be bolstered by the adidas Consortium Sneaker Exchange program, Messi contract, launch of Paul Pogba’s signature collection, focus on the EQT category, new UltraBOOST models and colors, Pharrell collaborations, Alexander Wang x adidas Originals capsule, and of course continued YEEZY BOOST collaborations. It’s no wonder the brand was able to offer an island to any NFL prospect that could break the 40 yard dash record at the Combine this past weekend.
- The Business Journals