BERLIN (dpa-AFX) - Sportswear maker adidas AG (ADDYY.PK) reported that its preliminary operating profit for the first quarter of 2025 climbed to 610 million euros from last year's 336 million euros.
The company's gross margin improved 0.9 percentage points to 52.1% compared to 51.2% last year. The year-over-year increase of the gross margin for the adidas brand was even stronger at 1.6 percentage points.
Quarterly revenues grew to 6.153 billion euros from 5.458 billion euros in the prior year. In currency-neutral terms, sales increased 13%. Excluding Yeezy sales in the prior year, currency-neutral revenues for the adidas brand increased 17% during the quarter, driven by double-digit growth across all markets and channels.
With the sale of the remaining Yeezy inventory concluded by the end of last year, the company's first-quarter 2025 results reflect no contributions from Yeezy.
adidas said it will publish its final set of financial results for the first quarter and host its quarterly conference call on April 29, 2025.
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