Football successes boost adidas
In line with a business update it issued in mid-July, sports group adidas has confirmed positive results for the first half of 2024.
It has reported revenues of just under €11.3 billion for the six-month period, growth of 6% compared to the first half of last year.
Its business in Europe grew by 17.5% to achieve revenues of more than €3.6 billion, but in North America, its revenues were down by 5.9% year on year to reach €2.4 billion. There was also growth in China, where revenues rose by 4.2% to reach €1.7 billion.
Adidas said its footwear business had grown strongly over the period, with sales rising by 15% to reach €6.8 billion. Its Originals styles and football boots did particularly well.
Growth in apparel was 3%, with this category bringing in revenues of just under €3.8 billion. Apparel revenues were also driven by football; sales of football shirts saw strong double-digit growth in the second quarter.
This was helped by the celebration of two major international football tournaments, both of which kicked off in June. Of particular benefit to adidas was that the winners of the two tournaments both wore adidas kit. Spain won the 2024 UEFA European Football Championship, while Argentina won the Copa América competition.
