**How active brands fared this spring: from Nike’s record revenues to Adidas’s losses**
The spring season was a mixed bag for major activewear brands. While some, like Nike, saw record revenues, others, like Adidas, struggled to keep up.
**Nike**
Nike reported record revenues of $12.2 billion for the fourth quarter of fiscal 2023, an increase of 5% compared to the same period last year. The company’s growth was driven by strong demand for its sneakers and apparel, particularly in North America and Greater China.
Nike’s success can be attributed to a number of factors, including its strong brand reputation, innovative products, and effective marketing campaigns. The company has also benefited from the growing popularity of athleisure wear, which has made its products more appealing to a wider range of consumers.
**Adidas**
Adidas reported a net loss of €330 million for the first quarter of 2023, compared to a net income of €432 million in the same period last year. The company’s sales fell by 16% to €5.0 billion.
Adidas’s losses were due to a number of factors, including the impact of the COVID-19 pandemic on its business in China, supply chain disruptions, and rising costs. The company has also been facing competition from Nike and other activewear brands.
**Other activewear brands**
Other activewear brands also reported mixed results for the spring season.
* Lululemon reported a 26% increase in revenue to $1.8 billion for the first quarter of 2023. The company’s growth was driven by strong demand for its yoga pants and other athletic apparel.
* Under Armour reported a 1% increase in revenue to $1.5 billion for the first quarter of 2023. The company’s growth was driven by strong demand for its footwear and accessories.
* Puma reported a 17% increase in sales to €2.2 billion for the first quarter of 2023. The company’s growth was driven by strong demand for its sneakers and apparel.
**Outlook**
The outlook for the activewear industry is positive. The growing popularity of athleisure wear is expected to continue to drive demand for activewear products. However, brands will need to continue to innovate and adapt to changing consumer trends in order to succeed.
**Key takeaways**
* Nike continues to be the dominant player in the activewear industry.
* Adidas is facing challenges due to the impact of the COVID-19 pandemic, supply chain disruptions, and rising costs.
* Other activewear brands are reporting mixed results.
* The outlook for the activewear industry is positive.
* Brands will need to continue to innovate and adapt to changing consumer trends in order to succeed..
