UPDATE 3-Samba, Gazelle shoes help drive Adidas sales while North America lags [Yahoo! Finance]
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Source: Yahoo! Finance
North America sales down 4% in Q1 (Adds comparison to Nike in paragraph 5, sneaker marketplace data in paragraph 6) By Linda Pasquini and Helen Reid April 30 (Reuters) - Sales growth in Europe and China helped drive Adidas' strong first-quarter results, while North America was a weak spot as retailers remain overstocked, the German sportswear brand said on Tuesday. Adidas has been on a turnaround journey since a damaging breakup with rapper Ye ended its highly profitable Yeezy shoe line and it reported a loss for 2023, but the company's sales have recently been boosted by the popularity of its "terrace" shoes such as the Samba and Gazelle. Adidas CEO Bjorn Gulden said the lifestyle business drove sales in the first quarter, and that demand for terrace shoes was still growing. Footwear revenues were up 13% over the quarter. "Adidas has gone from the one no one wanted to touch to the brand that has all the positive momentum behind it," said Marcus Morris-Eyton, portfolio ma
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