adidas sees ‘better-than-expected’ growth in China despite 9% revenue decline | Asian Business Review
, China
Source: adidas website

adidas sees ‘better-than-expected’ growth in China despite 9% revenue decline

The company recorded ‘flattish sales’ and a small operating profit overall. 

adidas reported its sales performance in Greater China was “better-than-expected” despite a 9% decline in its total revenues in the first quarter. 

“This was better than expected and makes us optimistic for the rest of the year,” adidas CEO Bjørn Gulden said. 

The brand also recorded a double-digit sell-out growth in the market, Gulden noted. 

Read more: adidas’ Greater China market posts revenue decline

Across the Asia Pacific, adidas also reported a double-digit increase of 16%, driven by strong growth in both wholesale and DTC. Sales in North America declined by 20%; whilst the Europe, Middle East, and Africa (EMEA), and Latin America markets recorded increases of 4% and 49%, respectively. 

“Q1 ended a little better than we had expected with flattish sales and a small operating profit of €60m,” Gulden said. 

After taxes, the company’s net loss from continuing operations amounted to €24m, the report also read.


Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!