North America and China drive Adidas growth but Reebok slips
Updated : May 03, 2018 12:49 PM IST
Kasper Rorsted, who took over as chief executive in 2016 after a series of profit warnings, has put a stronger focus than his predecessor Herbert Hainer on improving profitability at Adidas, which still lags bigger rival Nike.
Net profit rose 17% to 542 million euros ($650 million) as sales grew a currency-adjusted 10%$ to 5.55 billion euros.
The net profit figure exceeded an average analyst forecast for 510 million euros in a Reuters poll, but sales were slightly shy of consensus for 5.59 billion.