Germany’s Adidas’ revenue soars 8% in Q1 FY24

German sportswear firm Adidas reported an 8 per cent rise in Q1 FY24 currency-neutral revenues to €5.458 billion, boosted by robust sales in footwear and direct-to-consumer channels.
The company’s gross margin increased to 51.2 per cent, and operating profit soared to €336 million.
Net income reached €171 million, recovering from a loss last year.

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