Why Warehouse Clubs are the New Power Players in Apparel
Costco is growing apparel sales in a market where other
Earnings
Adidas (Germany) reported Q4 sales rose 24% to €5.96 million ($6.2 million). For the full year revenue rose 11% to 23.7 million euros ($24.7 million). Operating profit rose to €1.34 billion ($1.4 billion) for 2024, up from €268 million ($277 million) in 2023.
Puma (Germany) reported Q4 sales rose 9.8% to € 2,289 million ($2,380 million). Preliminary full-year sales grew 4.4% to € 8,817 million ($9,170 million). EBIT was flat year-on-year, while net income fell to € 282 million ($293 million) from € 305 million ($317 million) a year ago.
Primark (UK) reported Q1 2025 total sales rose 2% over the 16 weeks to Jan. 4, helped by new store openings. However, like-for-like sales fell 1.9% during the quarter. This is the first time same-store sales have fallen since the pandemic lockdowns, as the company said its low-income shoppers had been hit by economic worries. The group said it was now targeting “low-single digit” sales growth in 2025 for Primark, having previously forecast “mid single digit” growth.
Burberry (UK) reported Q3 sales fell 7% to £659 million ($830 million). Same-store sales fell 4%, with APAC sales down 9%, EMEIA (-2) and Americas (+4%). Burberry recorded a 4% drop in sales over the Christmas quarter, but expects to recover from losses made in the first half of its financial year after a strong performance in the US.
Markets
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