Adidas had a successful first quarter of 2019.
Adidas is one of the biggest sportswear companies in the world and its clothes and shoes are constantly being worn by some of the best and biggest athletes in the world. With a reputation for high standards of quality and design, it's no surprise that Adidas had a successful first quarter to 2019 and even exceeded their sales projections.
According to data from S&P Global Markets Intelligence, Adidas surpassed its estimated operating profits by 10 percent. Forecasts had Adidas' operating profits at $888 million, although the brand was able to reach $978 million coming in just under $1 billion. As far as sales are concerned, Adidas racked up $6.6 billion globally. It is said that these increases were thanks to increases in the Chinese market while online sales also went up.
Adidas CEO Kasper Rorsted Alexander Scheuber/Getty Images For DFB
Over the past year, Adidas' stock has risen 25 percent despite their growth slowing down in Europe and the United States. According to Hypeabeast, the company has been experiencing some supply chain issues when it comes to mid-priced apparel, although the issues haven't prevented Adidas from enjoying quite a bit of success.
Perhaps one of the reasons for the increase in sales is the fact that Kanye West's Yeezy brand has had a considerable amount of drops this year which have generated plenty of hype, while also creating enough stock to satisfy the demand.