Adidas Q2 results

Adidas AG reported a strong performance in the second quarter of 2024, with currency-neutral sales increasing by 11% and net income rising to €211 million, supported by a 16% growth in the Adidas brand. The company raised its full-year revenue guidance, now anticipating a high-single-digit increase, and an operating profit of around €1 billion, up from a prior estimate of €700 million. While North America saw an 8% drop in sales including the Yeezy line, revenues excluding Yeezy improved, indicating a recovery in the region. Adidas achieved inventory reductions of 18% to €4.5 billion, allowing for a healthier market position. Strong sales in Europe, where revenue rose by 19%, and emerging markets also contributed to the overall positive results. CEO Bjørn Gulden emphasized the brand's renewed momentum and successful product launches, particularly in footwear and apparel.