FRANKFURT: Adidas on Tuesday raised its profit forecast for 2025 following stronger-than-expected sales in the third quarter, reported German Press Agency (dpa).
The German sportswear giant said it now expects operating profit of around €2 billion (US$2.3 billion), up from an earlier forecast of €1.7 billion (US$1.9 billion) to €1.8 billion (US$2.1 billion).
Adidas cited better-than-anticipated sales and successful measures to offset additional costs from United States (US) tariffs.
Revenue in the third quarter grew eight per cent on a currency-adjusted basis to just over €6.6 billion (US$7.7 billion). Adidas’ core brand sales rose 12 per cent.
“I am extremely proud of what our teams achieved in the third quarter,” chief executive Bjørn Gulden said in a statement, calling the revenue and sales results the “highest we have ever achieved as a company in a quarter”.
Operating profit climbed from €598 million (US$694 million) to €736 million (US$855 million).
Adidas plans to release its full quarterly results on October 29.
For the full year, the company now expects currency-adjusted revenue growth of nine per cent, up from a previously projected high single-digit increase. – BERNAMA-XINHUA
