Adidas' 1Q net profit surges to $222.4 million

BERLIN: A sharp uptick in sales in North and South America has pushed athletic shoe and clothing maker Adidas AG's first quarter profit higher.

The company whose brands include Reebok said Tuesday it earned euro168 million ($222.4 million) in the January-March period, a big leap from the euro5 million it posted a year earlier.

The sharp increase came as revenues rose 4 percent to euro2.67 billion in the quarter compared with euro2.57 billion a year earlier.

Adidas CEO Herbert Hainer said the company had a ``great start'' to the year, with record first-quarter sales led, in part by record football sales and a strong performance for the Adidas and Reebok brands in North America.