Adidas Profits Rise Double Digits in Q3
Adidas has confirmed its top- and bottom-line full-year outlook coming off a strong third quarter fueled by double-digit growth in North America, greater China and e-commerce, where revenues grew 39 percent.
The sporting goods firm posted net profits of 527 million euros in the three months ended September 30, up 36 percent year-on-year.
Group sales increased 9 percent to 5.68 billion euros, driven by a 13 percent increase at the Adidas brand, which saw doubledigit increases in the running and outdoor categories as well as at Adidas Originals and Adidas Neo.
Gross margin, a key indicator of profitability, increased by 2.4 percentage points to 50.4 percent, boosted by better pricing and product mix, which the group said more than offset higher input costs as well as unfavorable currency developments.
Adidas confirmed net income from continuing operations for the full year is expected to increase at a rate of between 26 percent and 28 percent to a level of between 1.36 billion and 1.39 billion euros.