Adidas started off 2025 with a solid first quarter, showing strong revenue and profit growth. The company’s total revenue rose by nearly €700 million, reaching €6.15 billion compared to €5.46 billion during the same time last year.
This growth came without any income from Yeezy products, which were part of the company’s revenue in Q1 of 2024.
Footwear was the major contributor to this growth, with a 17% increase, powered by high demand across categories like Originals, Running, and Performance Basketball. Apparel also went up by 8%, and accessories rose by 10%.
All major markets showed double-digit growth, except for North America, where revenue was affected by the Yeezy phase-out.
Without that, North America sales still rose by 13%. Latin America and Emerging Markets were the fastest-growing regions, with 26% and 23% growth, respectively.
The company’s operating profit reached €610 million, a major leap, pushing the operating margin up to 9.9%. Gross margin also improved to 52.1%, helped by lower costs and fewer discounts.
“I am very proud of what our team achieved in Q1. Double-digit growth across all markets and channels in today’s volatile environment shows the strength of our brand and underlines the great job our people are doing.”
Bjørn Gulden, CEO, Adidas
He noted that in normal conditions, they would have raised their full-year forecast. But uncertainty around high U.S. tariffs is making it difficult to predict the year ahead.
The company confirmed its full-year outlook but acknowledged challenges from macroeconomic risks and rising tariffs.
Adidas said it will try to manage the situation flexibly and deliver better results in other regions to make up for any slowdowns in the U.S.
