Following the news that adidas expected their operating profit to reach €1 billion back in October, Sneaker Jobs can now confirm that the German sportswear brand reported a full year operating profit for 2024 of €1.337 billion.
It might feel like it’s all a bit doom and gloom out there in the industry at the moment but it’s still, as we’ve mentioned numerous times before, a case of winners and losers. Shares in the German sportswear brand adidas (ADS.DE) jumped 5% yesterday as “die marke mit den 3 streifen” reported a strong finish for fiscal 2024. adidas reported a revenue increase of 11% to €23.68 billion following the recent 3 stripes revival, a greater focus on DTC (direct to consumer) as well as cementing their classic gum soles on the new found female wearer for everyday work-wear. Beating analyst expectations for their 4th quarter for 2024, adidas reported a 24% increase in revenue of €5.97 billion, up from €4.81 billion compared to the same period last year. Operating profit for the quarter was €57 million.
I am very pleased the way the fourth quarter and the full year developed for us at Adidas. [Achieving] 19 percent currency-neutral growth in a quarter that in general was difficult for the trade underlines the strong momentum we currently see for our brand and our products. We clearly see that consumers’ and retailers’ interest in our products is growing across both lifestyle and performance. Strong growth across all regions and divisions proves the good job our teams are doing.
Bjørn Gulden – CEO adidas
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