Sporting goods Adidas confident after strong quarter
After a strong third quarter, sporting goods manufacturer Adidas is optimistic about its future development. Group CEO Björn Gulden believes that business in both the lifestyle and sports categories is well balanced.
29.10.2024, 10:00
SDA
"The strong underlying growth in China and the earlier-than-expected return to positive figures for the Adidas brand in North America in the last two quarters make us confident about the medium-term future," he explained at the presentation of the final figures for the third quarter on Tuesday in Herzogenaurach.
Adidas had already presented preliminary figures on October 15 and raised its forecast once again. The company has now confirmed this.
Sales rose by 7.3 percent to 6.4 billion euros, with currency-adjusted revenues increasing by ten percent. Adidas benefited from robust demand for retro sneakers and soccer jerseys, among other things.
Growth was driven by Europeans' propensity to buy. Adidas was also able to grow by almost nine percent on a currency-adjusted basis in the important Chinese market. Consolidated profit from continuing operations increased by 73.4 percent to 469 million euros.
