Adidas Sees Sales Surge in China and North America

Adidas AG (OTC:ADDYY) reported a significant increase in sales in Greater China in the third quarter, while also experiencing sales growth in North America, excluding the Yeezy collection. The German sportswear giant achieved a 9% growth in currency-adjusted sales in Greater China, reaching €946 million ($1.02 billion). This represents a significant increase compared to the €870 million recorded during the same period last year.

The company had previously announced preliminary figures for the third quarter at the beginning of October, which led to an upward revision of its annual guidance. Notably, the sales increase in the Greater China region indicates a strong foundational market performance for the brand.

In North America, Adidas capitalized on increasing brand momentum, contributing to higher sales figures, despite the Yeezy collection not being included in the reported growth. The positive developments in these two major markets highlight the company's ability to expand its global footprint and appeal to consumers in various regions.

The financial figures come at a time when the sportswear market is highly competitive, with companies competing for a larger share of consumer spending in key markets worldwide. The reported sales increase in Greater China is particularly noteworthy as it represents a recovery in a region that has recently been challenging for foreign brands.

Adidas's ability to manage market dynamics and consumer preferences is reflected in its financial performance. The latest sales figures demonstrate the brand's resilience and adaptability in the rapidly changing global retail environment.