Adidas’s second-largest market after Europe, North America, saw an 8 per cent decline in currency-neutral sales from April to June, amounting to € 1.3 billion (US $ 1.51 billion). In a media call, the business stated that underlying sales, excluding Yeezy, increased by 2 per cent from the same period the previous year. Adidas reported that, as of 30th June, its total inventory had decreased by 18 per cent to 4.5 billion euros from the same time last year. Adidas’ currency-neutral sales in Europe reached € 1.9 billion in the second quarter, up 19 per cent from the same period last year. Adidas stated that it was still targeting an operating profit margin of 10 per cent by 2026.

Source: Economic Times August 01, 2024 10:24 UTC