5/6/2022, 7:32 AM (Source: TeleTrader)
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Chart for: ADIDAS AG NA O.N.

Adidas EPS drops 38% to €1.60 in Q1

Adidas AG reported on Friday that its net sales in the first quarter of 2022 amounted to €5.3 billion, increasing 0.6% compared to the same period a year earlier and coming in above expectations.

Net income attributable to shareholders slid 13.6% to €482 million and net income from continuing operations dropped 38.2% year on year to €310 million. Diluted earnings per share (EPS) from continuing operations fell 38.3% to €1.60, while diluted EPS from continuing and discontinued operations declined 10.7% to €2.55. Operating profit stood at €437 million, down 38% compared to the same trimester in 2021.

"In the first quarter, consumer demand for our brand and products was strong in all Western markets. Our combined sales in North America, EMEA and Latin America grew at a double-digit rate," CEO Kasper Rorsted stated. "In the East, we will return to growth in Asia-Pacific in the second quarter, while we expect the challenging market environment in Greater China to continue," he added.

Baha Breaking News (BBN) / NP