Adidas posts 10% Q3 revenue growth, raises outlook
Adidas reported a 10% YoY increase in currency-neutral revenue for Q3, with a 7% rise in euro terms, reaching 6.438 billion euros (approximately $7.028 billion). The company raised its full-year guidance, now expecting around 10% growth in currency-neutral revenues and an operating profit of approximately 1.2 billion euros ($1.3 billion) for 2024. Excluding Yeezy sales, currency-neutral revenues rose 14% during the quarter. Gross margin improved by 2 percentage points to 51.3%, and operating profit increased to 598 million euros ($645 million), boosted by a 50-million-euro ($54 million) contribution from the sale of remaining Yeezy inventory.