adidas Overtakes Nike in Q2 Shareholders Report
North America belongs to the Three Stripes.
adidas reported strong Q2 growth in North America recently, with sales in the continent outstripping those from Nike in the same timeframe. Thanks to expansive promotion of new sneakers, like the revived Continental, and new colorways of proven sellers, like the still-popular UltraBOOST, along with careful supply management, adidas has consistently grown its business in 2018.
Celebrity endorsers, like Kanye West, helped the cause as well. adidas reported a healthy 16% growth in North America — far outpacing Nike’s 3% growth — and the German giant also enjoyed a 2% lead in China, though adidas sales in Europe stagnated during the same period, leading to reorganized management.
Analysts also point out that adidas-owned Reebok has begun to narrow losses and gain traction in North America, though it only saw a 6% gain in Q2 2018.
Elsewhere, adidas is preparing for its biggest-ever YEEZY BOOST restock.
