Adidas yesterday announced its Q3 financial results. Sales grew 10% to 6.44 billion euros ($6.85 billion). CEO Bjørn Gulden stated that the third-quarter performance exceeded expectations. Based on the latest financial results, Adidas raised its full-year revenue forecast for the third time this year, expecting an overall growth rate of around 10%. The company’s operating profit also saw a significant increase, rising to 598 million euros ($638 million), with the full-year profit target raised from 1 billion euros ($1.07 billion) to 1.2 billion euros ($1.28 billion). Despite a 7% decline in the North American market due to reduced Yeezy business, sales performance in other regions was strong. Notably, sales in Europe rose to 2.15 billion euros ($2.30 billion), an 18% increase; revenue from Greater China reached 946 million euros ($1.01 billion), up 9%; and emerging markets saw a growth rate of 16%. Additionally, retro sneaker styles such as Samba and Gazelle continued to be popular, contributing to a 14% YoY increase in footwear revenue.
China drives Adidas growth as Samba sneakers surge
Upgrade to Pro
Luxury’s personalized toolkit for business in China.
Join now to sharpen your focus.
Subscribe now
Have an account? Login