(Reuters) – Adidas said on Wednesday its North American revenue, excluding sales of rapper Kanye West’s Yeezy brand, rose in the second quarter from a year ago, driven by growth in wholesale and retail sales.
Including the Yeezy line, sales in North America – Adidas’ second-largest market after Europe – fell 8% to 1.3 billion euros for the April-June period.
“The decline is solely related to the significant decline in the Yeezy business,” the German sportswear maker said in a statement, without specifying to what extent sales increased excluding that product line.
As part of a turnaround led by CEO Bjorn Gulden, Adidas has sought to sell off remaining Yeezy inventory following the setbacks surrounding the end of its partnership with rapper and fashion designer Kanye West, also known as Ye, and is attempting to revive its brand through its popular retro models.
Its quarterly revenue in Europe rose 19% to 1.9 billion euros, compared with 1.6 billion euros a year earlier.
Adidas this month raised its 2024 forecast for the second time this year and in mid-July reported preliminary second-quarter results that beat expectations.
(Written by Linda Pasquini and Paolo Laudani in Gdansk; Diana Mandiá)
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