adidas: revenues of €12.1bn for the first half of 2025, up 14% (excluding currency effects)

adidas AG reported revenues of €12.105bn for the first half of 2025 (01/01 to 30/06/2025), up 7% "in euro terms" (2024: €11.28bn) and up 14% on a currency-neutral basis "as currency developments led to an unfavorable translation impact," announced the German group on 30/07/2025. Percentage comparisons with 2024 figures exclude the impact of the sale of the last Yeezy brand stocks in 2024 (no sales in 2025).

On a currency-neutral basis, adidas brand footwear sales rose by 16% in the first half of the year, while apparel sales rose by 12% and accessories by 8%.

The adidas brand posted double-digit growth in all markets (on a currency-neutral basis): +11% in Europe, +14% in the United States, +13% in Greater China, +25% in Latin America, +15% in Japan/South Korea and +19% in emerging markets.

The group's gross margin rose by 0.9% to 51.9% (2024: 51%) in the first half of the year. "The positive development was mainly driven by lower product and freight costs as well as reduced discounting, which more than offset unfavorable impacts from currencies and business mix. The first negative…