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Adidas Reports Fourth-Quarter Sales and Profitability Gains

An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
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Adidas Reports Fourth-Quarter Sales and Profitability Gains

An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)

Adidas reported what it said were better than expected preliminary fourth-quarter results on Tuesday, with strong sales and profitability for the important holiday shopping period.

The German sports equipment and apparel company said revenue was up 19% year on year in currency neutral terms while its gross margin increased by 5.2 percentage points to 49.8%.

Adidas reported sales of 5.956 billion euros ($6.2 billion) for the quarter, up from 4.812 billion a year ago.

For the full year, Adidas said revenue was up 12% in currency-neutral terms, hitting 23.683 billion euros ($24.7 billion). Profitability improved with the gross margin rising by 3.3 percentage points to 50.8%.

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Fashion

Saudi Fashion Commission, Kering Start Screening for 'Kering Generation Award X Saudi Arabia' Winners

The Saudi Fashion Commission logo
The Saudi Fashion Commission logo
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Saudi Fashion Commission, Kering Start Screening for 'Kering Generation Award X Saudi Arabia' Winners

The Saudi Fashion Commission logo
The Saudi Fashion Commission logo

The Fashion Commission and luxury group Kering have launched the selection process for winners of the "Kering Generation Award X Saudi Arabia," a collaborative initiative aimed at training and supporting twenty innovative startups that are making a significant impact in the fashion industry.
The partnership focuses on emphasizing sustainable practices, exploring innovative startups within the fashion and commodities sectors, and establishing award criteria, selection procedures, and development programs for participants.
The application process began in November 2024, inviting startups to submit their applications and embark on a journey toward promoting sustainability. Over 100 startups applied for the program, and 20 were selected to participate in a three-day training camp in Riyadh. The program featured workshops that concentrated on the development of key performance indicators and goal setting, as well as pitching skills.
On January 14, the shortlist of 20 startups convened in Riyadh for the final presentation session, where each applicant was evaluated according to the three key criteria: customer engagement, circular economy, and water protection.
Following the presentation, the evaluation process commenced to select the top 10 proposals, which the jury will assess based on innovation, relevance to the topic, connection to fashion, and potential impact on nature and society.
The awards ceremony for the "Kering Generation Award X Saudi Arabia" is scheduled for January 27 in Riyadh; the top three winning startups will be announced.
Winners will have the opportunity to participate in a week-long trip to Paris for exclusive mentoring with Kering's sustainability teams and present their innovations at the ChangeNOW Summit 2025.
Fashion Commission CEO Burak Cakmak said that sustainability is central to the Fashion Commission's vision for the industry's future.
He added that the Kering Generation Award X Saudi Arabia aims to showcase and support startups that are fostering significant innovation in circular fashion and environmental stewardship.
Cakmak said the initiative demonstrates the commission’s commitment to advancing solutions that tackle current challenges while paving the way for a more sustainable future in fashion.