German sportswear brand Adidas has reported 13 per cent first-quarter revenue growth from US$6.195 billion last year to US$6.984 billion this year.

Excluding the sale of its remaining Yeezy products, which was completed at the end of last year, the brand recorded a 17 per cent increase in revenue.  

“I am very proud of what our team achieved in Q1,” said Adidas CEO Biorn Gulden. “Double-digit growth across all markets and channels in today’s volatile environment shows the strength of our brand and underlines the great job our people are doing.”

According to preliminary results, the company’s operating profit increased from US$381 million in the first quarter of last year to US$692 million in the same quarter this year, while its operating margin grew from 6.2 per cent to 9.9 per cent. 

The brand’s gross margin improved by 1.6 per cent as compared to the same period last year.

The company will publish the final set of its financial results for the first quarter of the year on April 29.