Adidas nearly doubles its profit in Q1

Adidas's first-quarter performance has amazed the market, nearly doubling its operating profit and achieving the highest quarterly sales in company history. On April 24, the German sportswear giant announced its first-quarter operating profit of 610 million euro, far surpassing analysts' expectations of 546 million euro. This compares to 336 million euro in the same period last year.

At fixed exchange rates, revenue increased by 13% year-on-year to 6.1 billion euro, setting a record for the company's first-quarter sales. Adidas' new CEO, Bjørn Gulden, stated that amidst today's volatile environment, all markets and channels achieved double-digit growth, demonstrating the strength of the brand. Despite strong first-quarter performance and three upward revisions of annual forecasts last year, Adidas did not mention its 2025 targets in the preliminary earnings report. Gulden previously expressed a cautious stance on long-term guidance due to ongoing geopolitical uncertainties and changing consumer sentiment. Adidas will release its full quarterly results on April 29.