The German sportswear giant still managed to beat market expectations.
. But the question of what to do with unsold Yeezy stock remains. Adidas has said that it could lose around 1.2 billion euros if it decides not to sell the product, and Gulden pointed out that Adidas’ Q1 sales growth would have been 9 percent if not for the Yeezy problem.
Sales of footwear grew 1 percent to 3 billion euros, driven by success in performance footwear, particularly in running, football, tennis and outdoor pursuits like hiking. Sales of accessories rose 8 percent 340 million euros and this too was driven by the football category, the company noted. ] was better than expected and makes us optimistic for the rest of the year,” Gulden said in his statement.Revenues in Europe, the Middle East and Africa rose 4 percent.
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