adidas Crushed Their Last Financial Quarter
The numbers are in! And they reveal adidas absolutely crushed their last financial quarter. Amid news that Nike are cutting their workforce by 2 per cent (and that their CEO lost nearly two thirds of his salary!) adidas continue to thrive.
Their latest earnings report reveals revenue increased by 19 per cent on a currency-neutral basis. The boost is attributed in part to restructuring that saw adidas-owned TaylorMade and other brands divested. At street level, clever colabs with personalities like Pharrell fan interest in an already super-responsive youth market. In addition, partnerships with artists and designers more often than not result in unique designs with strong identities, while also ensuring adidas' web of appeal is woven pretty evenly across different cultures and demographics.
Based on the come-up, adidas increased their 2017 financial outlook, forecasting growth of 26–28 per cent that will tuck around €1.4 billion into their pockets.