BERLIN — Adidas Group improved its profit performance in the first quarter, with net income gaining 6 percent to 308 million euros, or $406.8 million.
Gross margin increased 2.4 percentage points to 50.1 percent, the group’s “highest-ever” quarterly gross margin, which was above 50 percent for only the second time in its history. Adidas cited a positive impact from more favorable pricing, product and regional sales mix as well as a larger share of higher margin retail sales for the development.
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