Find in the news:
BY COUNTRY

Adidas raises earnings guidance as sales exceed expectations



Adidas has raised its full-year profit guidance following an exceptional performance in the first quarter of 2024.
Adidas store

Adidas has raised its full-year profit guidance following an exceptional performance in the first quarter of 2024. The company now anticipates a full-year operating profit of approximately 700 million euros ($744 million), up from the previously forecasted 500 million euros.

Recovery after annual loss

This optimistic outlook for 2024 follows a recent setback, as Adidas reported its first annual loss in over three decades, primarily due to challenges in North America. However, the company is now seeing signs of recovery, particularly in its operating profit.

Adidas expects currency-neutral sales to increase by a mid-to high single-digit percentage in 2024, surpassing the earlier projection of a mid single-digit rate. This positive sales forecast reflects the company's confidence in its business strategy and market performance.

Share price response

The announcement of the increased profit guidance has had a positive impact on Adidas' share price. Frankfurt-listed shares in the company rose by 3.5% following the news, indicating investor confidence in the company's future prospects.

Problems with Yeezy cost Adidas hundreds of millions of dollars

Yeezy business performance

Adidas reported quarterly operating profit of 336 million euros, a significant increase from 60 million euros in the previous year. The resurgence in profitability can be attributed to the successful performance of its Yeezy business, with sales contributing 150 million euros in revenue and an operating profit of around 50 million euros in the quarter.

The company expects to sell the remaining Yeezy inventory for approximately 200 million euros later in the year, although without any additional profit contribution. This move reflects Adidas' strategic focus on managing its inventory and optimizing its product portfolio.

Challenges ahead

Despite the positive outlook, Adidas acknowledges the continued impact of unfavorable currency effects on its profitability in 2024. The company anticipates these effects to affect both reported revenues and gross margin development throughout the year, highlighting the need for careful financial management and adaptation to market conditions.



YESTERDAY, France:
The brand is set to open a flagship store in the Parisian district of Le Marais.
May 24, 2024, USA:
Stüssy is preparing to launch the new archive store in Brooklyn, New York, for one month.
May 23, 2024:
Located on Broadwick Street in Soho, London.
May 22, 2024, USA:
Luxury fashion house Balenciaga inaugurated its first standalone store in Chicago, Illinois.
May 21, 2024, France:
Some fashion brands are opting to hold their showroom presentations in Milan this season due to logistical challenges posed by the Olympics.
May 20, 2024:
The collection follows the recent launch of Zara's 'Timelesz' line and represents another step in enhancing its kids' division.
Friend
and Follow
Mall of Georgia GLA:1 786 000 SF
ADDRESS: 3333 Buford Dr, Buford, GA 30519-4913
USA . Buford
Mall of Georgia
Designer Outlet Provence GLA:269 098 SF
ADDRESS: Mas de la Peronne, Miramas, France
France . Miramas
Designer Outlet Provence
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Westfield Garden State Plaza GLA:2 118 718 SF
ADDRESS: 1 Garden State Plaza, Paramus, NJ 07652


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us