Adidas AG ended 2018 with a spike in fourth-quarter earnings, wrapping a year of record sales and the highest margin in the company’s history, fueled by double-digit growth in Adidas North America, China and e-commerce.
Net income from continuing operations in the three-month period, excluding a negative one-time tax impact, were up 29 percent to 93 million euros ($105 million), with sales rising 3.5 percent to 5.23 billion euros, coming off a high base.
Net income in full-year 2018 rose 19.5 percent to 1.7 billion euros, with revenues rising 3.3 percent to 21.91 billion euros, driven by double-digit growth in Adidas’ Sport Inspired category and high-single-digit gains in Sport Performance.
The company’s operating margin increased 1.1 percentage points year-on-year to 10.8 percent.
Watch on FN
In terms of outlook, the German activewear giant on Wednesday said it expects top-line growth of between 5 percent and 8 percent in 2019.
To read the full story, please go to WWD.com
