China drives Adidas growth as Samba sneakers surge
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.