Adidas Reports Biggest Quarterly Revenues Ever
Adidas just finished out their highest-earning quarter ever.
The company released its Q1 2016 earnings report this week, where it reported quarterly revenues of €4.769 billion (roughly $5.48 billion USD), up 17 percent from this time in 2015 and a 22 percent increase on a currency-neutral basis.
It marks the highest quarterly revenue in adidas history.
In addition to Adidas' success, their subsidiaries Reebok is also flourishing, with currency-neutral numbers up 6 percent in comparison to this time last year, marking its 12th straight quarter of growth.
adidas CEO Herbert Hainer says their new focus on the North American market, where it has long struggled, proves that it's strategy is "paying off".