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Adidas Reports Growth in China Sales for Third Quarter

Oct 29, 2024, 3:14 a.m. ET

Asianfin -- Adidas on Tuesday announced robust growth in its Greater China region during the third quarter, with North American sales—excluding the Yeezy collection—also showing positive momentum.

The company's currency-neutral sales in Greater China reached 946 million euros ($1.02 billion), a 9% increase from 870 million euros in the same quarter last year.

In North America, Adidas's second-largest market after Europe, the Middle East, and Africa (EMEA), currency-neutral sales decreased by 7% to 1.36 billion euros for the July to September period. However, sales rose compared to the previous year when excluding the Yeezy line.

The popularity of Adidas's "terrace" shoes, retro styles inspired by soccer fans from the 1970s and 80s, has bolstered sales and helped the company gain market share against competitors like Nike. This comes as Adidas continues to recover from its high-profile split with rapper Kanye West, known as Ye.

Earlier this month, the German sportswear brand released preliminary figures for the third quarter and raised its annual guidance once again.

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