Adidas ADDDF 343.80 -12.20 -3.43% reported a 17% rise in first-quarter net profit on Friday. Revenue rose 4% to $6.57 B with a net profit of $632 M vs estimates of $5.8 B and $567 M.
Some highlights causing the jump in stock price and the beats…
- Double-Digit Growth in China in the First Quarter
- Online Revenue Jumped 40%
- Partnerships with Kanye West, Beyoncé and a new “Game of Thrones” Collaboration
- A Promise to Fix Supply-Chain Problems
The partnership with Beyoncé, anounced last month, brings the relaunch of her fashion workout clothing line Ivy Park.
And never forget the visionaries Run-DMC…