Adidas has reported a remarkable increase in its third-quarter profits, marking a 46% surge compared to the previous year.
- The sportswear giant achieved a 14% rise in the Adidas brand, contributing to a 10% increase in currency-neutral sales.
- Operating profit for the period reached £498.39 million, significantly higher than the prior year’s £340.87 million.
- The company anticipates reaching an operating profit of around £1 billion by the year’s end.
- CEO Bjørn Gulden expressed satisfaction with growth across all regions, channels, and product divisions.
Adidas has announced an impressive 46% increase in its third-quarter profits, coinciding with an uplift in its full-year financial projections. This growth was driven by a robust 14% rise in the Adidas brand’s performance, which played a significant role in boosting currency-neutral sales by 10%.
For the period, Adidas reported an operating profit of £498.39 million, a notable improvement from the £340.87 million recorded the previous year. This financial outcome reflects the strong momentum across the company’s lifestyle and performance sectors, affirming Adidas’s brand strength and broad market appeal.
Adidas experienced substantial growth in all its markets, channels, and product divisions, signaling a comprehensive upward trend in its operations. The double-digit growth reported in both lifestyle and performance categories highlights the company’s diverse product appeal and strategic positioning.
Looking ahead, Adidas has set its sights on achieving an operating profit of approximately £1 billion by the end of the year. This optimistic forecast underscores the company’s strategic progress and confidence in continued financial success.
CEO Bjørn Gulden commented positively on the company’s achievements, acknowledging the robust 14% growth in the Adidas brand and an operating profit above €598 million. He emphasized the health of the company’s gross margin, which remained above 51%, as a testament to Adidas’s effective business direction.
Adidas’s strong performance in the third quarter sets a positive trajectory for its anticipated year-end financial goals.
