• Loading stock data...
Tuesday, November 5, 2024
The Best Employers in Sports survey is open through Nov. 6 Learn More

Adidas Revenue Up 51% in Q2

man_tying_shoe
adidas/Design: Alex Brooks

Adidas released second-quarter earnings Thursday, and sales are strong everywhere except China.

Quarterly revenue was up 51% year-over-year to $6 billion. Net income hit $470 million, a sharp pivot from the net loss of $349 million during the same quarter last year. 

  • The company’s full-year outlook has been raised.
  • It expects sales to increase by up to 20% and net income to reach as much as $1.77 billion in fiscal 2021.
  • Operating overhead expenses were flat at $1.76 billion. That figure includes a $71 million cost that adidas temporarily incurred in its planned divestiture of Reebok.

However, online sales were down 14% year-over-year

Adidas released its Q4 2020 earnings alongside a five-year plan focused on doubling e-commerce revenue and growing sales in Latin America, the Asia-Pacific, and China.

Greater China’s more than 16% drop in second-quarter sales comes amid an ongoing boycott of brands that publicly expressed concern about reports of forced labor on the Uyghurs in the Xinjiang region.

E-commerce sales were likely impacted because of consumers’ ability to visit brick-and-mortar stores after most lockdowns ended. The decline in online revenue also reflects the “exceptionally high growth” in 2020, when digital sales almost doubled at the height of the pandemic.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Brooks Running posted positive numbers in Q1 of 2023.

Brooks Running Is Having Its Best Year Ever

Brooks opened its first store in Shanghai as it pushes into China.

Lululemon-Fanatics Collab With NHL Sees ‘Explosive’ First-Day Sales

The premium collection made up 80% of all NHL merch sales.
Feb 1, 2024; Toronto, Ontario, CANADA; Team King defender Savannah Harmon (15) scores against Team Kloss goaltender Nicole Hensley (29) during the PWHL 3-on-3 Showcase during NHL All-Star Thursday at Scotiabank Arena.

PWHL Will Add Two Teams in Expansion Move

Possible new sites include Detroit, Pittsburgh, and Quebec City.
Oct 26, 2022; San Francisco, CA, USA; A detailed view of Adidas Yeezy Boost 350 V2 "Bred" shoes worn by Arizona State Sun Devils coach Bobby Hurley during Pac-12 Media Day at Pac-12 Network Studios.

Adidas and Ye Officially Finalize Their Divorce

The company said the two sides reached an out-of-court settlement.
podcast thumbnail mobile
Front Office Sports Today

NFL Teams Face Crossroads at Season’s Halfway Point

0:00

Featured Today

NFL Center Connor McGovern Is the Heir to a Potato Empire

The NFL vet’s family provides potatoes for McDonald’s, Wendy’s, and others.
Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion
November 2, 2024

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.
November 1, 2024

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
October 31, 2024

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.

New York First: Yankees and MSG Go All In on Live Sports Streaming Pact

The YES Network and MSG Networks will offer their content in a combined streaming app.
June 2, 2023

Lululemon Sales Up 24%, Beats Expectations With Strong Quarter

Lululemon reported strong earnings in its first fiscal quarter of 2023.
April 19, 2024

Nike Cuts Over 700 Jobs In Second Phase of Layoffs

“Nike’s always at our best when we’re on the offense,” the company says.
Sponsored

World Series Delivers High-Demand Marquee Matchup

The hype around the World Series matchup drove ticket prices to record levels—but the Dodgers’ dominance quickly quieted the fervor.
cartoons_of_former_rising_25_winners
May 13, 2020

Rising 25 Class of 2020

Established in 2017, the Front Office Sports Rising 25 Award has become one of the most competitive and prestigious awards in sports business.
fos_logo
December 29, 2019

Year in Review: 2019

As we head into both a new year and a new decade, we wanted to take a moment to reflect on this past year and set the tone for what’s to come in 2020.
2019_best_employers_in_sports_logo
November 19, 2019

The 2019 Best Employers in Sports

The Front Office Sports Best Employers in Sports Award recognizes the organizations that are doing the best by their employees.
four_cartoon_people
October 4, 2019

Front Office Sports Adds Four More to Team

Front Office Sports is proud to formally announce the addition of four talented team members. FOS now boasts a full-time staff of nine employees.