Adidas sees 93% online sales spike

Adidas has reported “exceptional growth in online sales” during the last quarter, up 93 per cent and accounting for more than a third of total revenue.

However, this was not enough to offset an overall 35 per cent fall in sales to £3.25 billion, compared to the £4.97 billion a year earlier.

The shoes and sportswear brand was forced to shut around 70 per cent of its stores during the pandemic, but the latest trading update said 90 per cent of those have now reopened - although they are not yet hitting pre-pandemic levels of footfall.

The statement noted a sharp rise in sales of 'athleisure', running and yoga products, as the “entire dress for work changed overnight”.

Chief executive Kasper Rorsted commented: “We are now seeing the light at the end of the tunnel as the normalisation in the physical business continues, with the vast majority of our stores being operational again.

“Where we are open for business, be it in physical stores or in the digital space, consumer demand for our products is high," he continued, adding: "This is a solid foundation to build on as the long-term growth prospects for the industry have become even more promising.”

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