According to reports, Adidas has posted a big rise in sales in the US, beating gains by its American competitor Nike.
Without currency fluctuation, Adidas sales surged almost 31% in the first quarter, in contrast with Nike’s surge of 3% for the three months to the end of February.
The increase was driven by a company’s recent marketing push in North America.
Adidas stock hit record highs following the report, before closing 0.9% higher on the Frankfurt stock market.
Meanwhile company’s sales in Greater China surged by 31% in contrast with Nike’s 15% rise.
In general, Adidas saw sales going up by 16%. Company’s net profits in the three months to the end of March were up by 30% to 455m euros.
German sportswear firm’s online sales jumped more than 53% during the quarter.
Adidas chief executive Kaspar Rorsted said: “We had a strong start into the year, with continued sales and earnings momentum.”
According to reports, Adidas has performed mainly well out of the popularity of retro-style trainers, a trend which has not helped rival Nike to the same degree.
Furthermore sales of the group’s Adidas and Reebok brands augmented in all markets except Russia, where “challenging consumer sentiment as well as additional store closures” meant sales fell by 10%.
Moreover it is reported that Adidas growth was boosted mainly by a increase in running and outdoor products, as well as Adidas Originals and Adidas Neo which are designed for casual wear. Reebok sales were enhanced by growth in training wear and its retro Classics brand.
The sportswear giant also said it anticipates sales in 2017 to improve at a rate of between 12% and 13%, aided by double digit growth in Western Europe, the US and Greater China.