Adidas: back in the black in Q1
Operating profit was 336 ME, compared with 60 ME twelve months earlier, a more than fivefold increase.
adidas thus posted a net profit group share of 170 ME, a far cry from the 39 ME loss in Q1 2023, giving EPS of 0.96 euro, compared with -0.18 euro a year ago.
adidas expects its revenues to grow at a 'mid to high' single-digit rate in 2024, whereas the firm has been targeting a 'mid' single-digit rate until now.
Adidas also expects the remaining Yeezy stock to be sold on average at cost, resulting in sales of around €200 million over the remainder of the year.
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