5/7/2021, 7:33 AM (Source: TeleTrader)
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Adidas net sales jump 20% to €5.3 billion in Q1

Adidas AG reported on Friday that its net sales in the first quarter of 2021 amounted to €5.3 billion, surging 20% compared to the same period a year earlier.

IFRS net income attributable to shareholders skyrocketed 1,720% to €558 million and net income from continuing operations reached €502 million. Diluted earnings per share (EPS) from continuing operations soared from €0.16 in the first trimester of 2020 to €2.60 this year, while diluted EPS from continuing and discontinued operations stood at €2.86.

"We are fast out of the gate in the first year of our new strategic cycle, with excellent revenue growth, DTC-led sales increases in all market segments and strong profitability improvements," CEO Kasper Rorsted stated. "We upgrade our full-year outlook as we are now even more confident about a strong top-line recovery this year, even though the environment is not yet back to normal," he added.

Baha Breaking News (BBN) / NP