Adidas reported what it said were better than expected preliminary fourth-quarter results today, with strong sales and profitability for the important holiday shopping period.
The German sports equipment and apparel company said revenue was up 19% year on year in currency neutral terms while its gross margin increased by 5.2 percentage points to 49.8%.
Adidas reported sales of 5.956 billion euros or $6.2 billion for the quarter, up from 4.812 billion a year ago.
For the full year, Adidas said revenue was up 12% in currency-neutral terms, hitting 23.683 billion euros or $24.7 billion.
Profitability improved with the gross margin rising by 3.3 percentage points to 50.8%.
