NKE - Adidas Puts Yeezy History Behind Rides Fashion High With Samba And Gazelle Shoes | Benzinga
Adidas AG (OTC:ADDYY) has seen a surge in sales thanks to its Samba and Gazelle shoes, despite a decline in North American sales.
What Happened: Adidas’ first-quarter sales in Europe and China have contributed to a 14% and 8% increase respectively, while North America, its second-largest market, experienced a 4% decrease, Reuters reported.
The company’s sales have been driven by the popularity of its “terrace” shoes, including the Samba and Gazelle, following a challenging period after the termination of its lucrative Yeezy shoe line.
Adidas’ CEO, Bjorn Gulden, attributed the strong first-quarter sales to the lifestyle business, with demand for terrace shoes continuing to grow. Footwear revenues increased by 13% over the quarter, despite a 1% drop in Adidas’ shares during early trading.
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