Lifestyle business main sales driver for Adidas
CEO says demand for Samba, Gazelle still growing
North America sales down 4 in Q1

April 30 Reuters Strong demand for its retrostyle Gazelle and Samba sneakers helped drive Adidas39; strong firstquarter growth, especially in its home market of Europe, the company said on Tuesday, as the company moves on from its damaging breakup with rapper Ye.

While its home market saw growth, North America was a weak spot as retailers remain overstocked, the German sportswear brand said.

Adidas has been on a turnaround journey since the cancelled partnership with Ye ended its highly profitable Yeezy shoe line and it reported a loss for 2023, but the company39;s sales have recently been boosted by the popularity of its terrace shoes such as the Samba and Gazelle.

Adidas CEO Bjorn Gulden said the lifestyle business drove sales in the first quarter, and that demand for terrace shoes was still growing, helping drive sales up 14 in Europe.

The demand for our product, especially in footwear is very, very high in our home market, Gulden told reporters on a call.

Overall, Adidas39; footwear revenue jumped by 13 over the quarter.

Adidas has gone from the one noone wanted to touch to the brand that has all the positive momentum behind it, said Marcus MorrisEyton, portfolio manager at AllianceBernstein, which holds Adidas shares in its European Growth fund.

Shares in Adidas, which have gained 25 so far this year, were down 1.3 at 1105…