adidas Reports Nearly $1B USD 2019 Q1 Operating Profits

Due to increased online revenue and booming Chinese sales.

Fashion
24,145 Hypes 7 Comments

adidas has beat its estimated earnings forecast by 10% according to data by S&P Global Markets Intelligence. Originally forecast for operating profits of €794 million EUR (approx. $888M USD) in Q1 2019, the German footwear giant surpassed this figure with a total operating profit of €875 million EUR (approx. $978M USD).

Overall, adidas AG’s reached global sales of €5.88 billion EUR (approx. $6.6B USD), ahead of the €5.8 billion EUR ($6.48B USD) average estimate. adidas generated these operating profits as a result of booming Chinese business and increased online revenue, following on from its news in January that YEEZY sales had increased by 600%.

Despite the profits, adidas is experiencing problems in Europe as growth has halted on its home turf, and in the U.S. where it is experiencing difficulties with its supply chain for mid-priced apparel. adidas even reported slowing global sales growth back in March, and yet, the companies stocks continued to rise contradicting analysts’ predictions.

With stock climbing 25% this year, adidas could be on sight for a fifth consecutive year of annual gain. The news follows adidas’ CEO Kasper Rorsted’s aim to improve the company’s operating margins to keep it on target for 2020 goals.

In other Three Stripes news, here’s what the CEO had to say on Kanye West’s politics and its recent Beyoncé partnership.

Read Full Article

What to Read Next

Nike Reports Q1 2022 Results, Noting Supply Chain Issues
Footwear 

Nike Reports Q1 2022 Results, Noting Supply Chain Issues

The company now expects slower revenue growth in fiscal 2022.

Alibaba Group Posts $1.17 Billion USD Loss in Q1
Tech 

Alibaba Group Posts $1.17 Billion USD Loss in Q1

The retail giant blamed losses on a hefty fine imposed by the Chinese government. 

Keychron Introduces its Latest Q1 Mechanical Keyboard
Tech

Keychron Introduces its Latest Q1 Mechanical Keyboard

Offering endless opportunities for personalization.


Tesla's Quarterly Profit Surpasses $1 Billion USD
Automotive 

Tesla's Quarterly Profit Surpasses $1 Billion USD

10x last year’s reported earnings.

Parra & Case Studyo Deliver 'Friday,' A Post-Pop Art Metal Enamel Screen Print
Art

Parra & Case Studyo Deliver 'Friday,' A Post-Pop Art Metal Enamel Screen Print

Raffling off each of the 100 signed pieces.

adidas and Foot Locker Bring the Rapid Sneaker Creation of the SPEEDFACTORY to Europe
Footwear 

adidas and Foot Locker Bring the Rapid Sneaker Creation of the SPEEDFACTORY to Europe

Presented by Foot Locker Europe
Custom designs for each city.

YouTube Sensation 'Cobra Kai' Renewed for Third Season
Entertainment

YouTube Sensation 'Cobra Kai' Renewed for Third Season

The Daniel son story continues.

How to Get the Cactus Plant Flea Market x Nike Air VaporMax 2019
Footwear

How to Get the Cactus Plant Flea Market x Nike Air VaporMax 2019

Four chances to get your hands on the anticipated release.

Oi Polloi & Carhartt WIP Return With Technicolor-Logo Sweatshirts
Fashion

Oi Polloi & Carhartt WIP Return With Technicolor-Logo Sweatshirts

Delivering a selection of pastel hues and bold block colors.


Opening Ceremony Enlists The Martini Bear For Polo Capsule Collection
Fashion

Opening Ceremony Enlists The Martini Bear For Polo Capsule Collection

Summer in the Hamptons vibes.

Nike Reworks Air Max 97 With Heat Map-Themed Colorway
Footwear

Nike Reworks Air Max 97 With Heat Map-Themed Colorway

Complete with gradient design.

Paris Saint-Germain & Retailer Andrew Release Limited Edition Skate Decks
Sports

Paris Saint-Germain & Retailer Andrew Release Limited Edition Skate Decks

In three bold colorways.

Asian Da Brat Enlists Smokepurpp & Yung Mal for 'UNFUCCWITABLE' LP
Music

Asian Da Brat Enlists Smokepurpp & Yung Mal for 'UNFUCCWITABLE' LP

Released under Gucci Mane’s 1017 Eskimo label.

Here's the Best Things to Do in the UK This Bank Holiday Weekend
Events 

Here's the Best Things to Do in the UK This Bank Holiday Weekend

All the happenings in music, arts, food and cinema from May 3-9.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.