Germany’s Adidas posts operating profit of $292.7 mn in FY23

Adidas’s saw a downturn in operating profit to €268 million ($292.7 million) in FY23 from the previous year’s €669 million, alongside a 5 per cent revenue decrease to €21.427 billion ($23.4 billion).
The brand achieved growth in footwear sales driven by strong performances in football.
The company’s direct-to-consumer revenues climbed by 3 per cent.

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