Athleisure struggles a great deal, as Adidas (+10%) keeps up with Puma and Nike (+7%). Under Armour slows down though

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In 2018 first quarter, Adidas achieved very good accomplishments, as revenues increased by 10%, therefore reaching 5,5 billion euros. Likewise, profits were rewarding as well, as gross margin went up by 51,5%, while the operating one increased by 13,4%. The turnover of the sport fashion German group has been speeding up in double figures in North America (+23%), in China (+26%) and in the digital channel (+27%); conversely, Rebook brand sales dropped by 3% in the same period. On the whole, such results enable Adidas to confirm 2018 positive outlook and, at the same time, keep up with competitors in the athleisure business: in the same period Puma’s sales went up by 12%, while in the financial year third quarter Nike’s earnings have been boosting up to 9 billion dollars (+7% progressively). In contrast, Under Armour has not been performing so brilliantly. After ending 2017 on a negative financial trend, they announced that in the last quarter revenues increased by 6% (1,19 billion dollars); yet the brand lost 30,2 million dollars because of the US market slowdown.

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