On August 3rd, the German sportswear giant Adidas released its financial data for the second quarter and first half of the fiscal year 2023.
In the second quarter of the 2023 fiscal year:
Revenue decreased by 5% to 5.343 billion euros. Excluding exchange rate effects, revenue remained the same as the same period last year.
The increase in gross margin by 0.6 percentage points to 50.9% was mainly due to the company’s implemented pricing strategy and improved channel composition. The data for 2022 was 50.3%.
Operating profit was 176 million euros, with an operating profit margin …