Adidas has reported a significant rise in quarterly profits, reflecting strong brand momentum.
- The company’s operating profit reached £498.39m, exceeding the previous year’s £340.87m.
- Sales grew by 10% on a currency-neutral basis, driven by a 14% increase in the Adidas brand.
- The firm experienced growth across all markets and product divisions.
- Future profit forecasts have been adjusted to around £1 billion, indicating continued positive outlook.
Adidas has announced a substantial increase in its third-quarter profits, marking a 46% rise from the same period last year. This financial achievement follows the recent upward revision of its full-year guidance, indicating a positive trajectory for the company.
During the quarter, Adidas’s operating profit soared to £498.39 million, a notable rise from the £340.87 million recorded the year before. This increase highlights the company’s capacity to exceed financial expectations, demonstrating resilience in a competitive market.
Sales figures revealed a 10% growth on a currency-neutral basis. This upturn was significantly influenced by the Adidas brand, which exhibited a remarkable 14% growth during the same period. The surge underscores the brand’s strength and appeal across various consumer segments.
In terms of market performance, Adidas confirmed underlying growth across all regions, channels, and product divisions. This widespread success reflects the comprehensive strength of the brand, as it managed to achieve double-digit growth in both its lifestyle and performance sectors.
Looking ahead, Adidas has revised its operating profit forecast to approximately £1 billion, surpassing the prior forecast of £0.83 billion. CEO Bjørn Gulden commented on the performance, expressing satisfaction with the results and the healthy gross margin exceeding 51%, indicative of the brand’s positive direction.
Adidas’s robust third-quarter performance highlights its strategic growth and market strength, setting a promising outlook for the future.
