5 Things We Learnt From adidas' 2019 Q1 Financial Report
Unless you’ve got a bizarre fetish for stats, graphs, numbers, or commerce jargon, we can’t imagine too many of you adding adidas’ Q1 Financial Report to your must-read list. Safe to say, it’s not the most enthralling prose going around, but we’ve pulled on our business socks to sift through it — you know, for the culture.
Did Team Trefoil make money moves? Here’s the five things we learnt from adidas' first quarter performance.
5. Things Warm Up in Europe
Increased sales in both lifestyle and performance categories led to a four per cent revenue increase (currency neutral) overall. However, it was a six per cent jump in Europe, which was a key win. Training and running sales were the main improvement drivers.
4. Big Moves in Strategic Growth Regions
Team Trefoil celebrated double-digit growth in Greater China, Africa and Russia during Q1, attributing the improvements to strong Performance and Lifestyle sales.
2. The ’Bok’s Stocks Take a Knock
Unfortunately, adi’s subsidiary Reebok underachieved with a six per cent decrease in revenue overall, due to declines in all markets. North America was the region with the biggest drop, experiencing a hefty 12 per cent decline. We’re curious to see how the brand responds in Q2.
1. Futurecrafting Better E-Comms
E-commerce experienced a whopping 40 per cent increase off the back of the exclusive drops like the AlphaEDGE 4D, and the uptake of the adidas App, which was downloaded nine million times globally.