Adidas Quarterly Sales Beat Expectations

German brand Adidas reported an improvement in its financial performance in the first quarter, although sales decreased by 1% compared to last year due to the crisis with the Yeezy brand, which the company developed with rapper Kanye West. This resulted in a loss of sales in the regions of North America, China, Europe, the Middle East and Africa, estimated at approximately 400 million euros ($441.56 million). However, the company's CEO, Bjorn Gulden, noted the success of other footwear brands such as Terrace, Samba, Gazelle and Campus. In the first quarter, Adidas posted an operating profit of €60m, beating analysts' expectations of €15m, but gross profit fell to 44.8% due to lost Yeezy sales and increased supply chain costs and rebates.