The sporting goods manufacturer Adidas is becoming more optimistic for this year after surprisingly good summer business.
The operating profit should now reach around 2 billion euros instead of 1.7 to 1.8 billion euros, as the DAX group announced in Herzogenaurach. Adidas cited better-than-expected business and successful steps to reduce the additional costs caused by US tariffs as reasons.
In the third quarter, sales, adjusted for currency fluctuations, grew by 8 percent to a good 6.6 billion euros. The 2024 figures also included sales of items from scandal rapper Kanye West’s discontinued Yeezy brand. The Adidas brand has now even increased by 12 percent.
Adidas boss: Highest sales in a quarter
CEO Bjørn Gulden spoke of a sales record. “This is the highest revenue we as a company have ever achieved in a quarter.”
Operating profit grew from 598 million to 736 million euros. Adidas plans to publish the final quarterly figures as planned on October 29th.
Adidas now expects a currency-adjusted increase in sales of 9 percent for the year as a whole. Previously, management had forecast a plus in the high single-digit percentage range.
The news was well received on the stock market: in after-hours trading on the Tradegate platform, Adidas shares rose by almost two percent compared to the Xetra closing price.