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Adidas lifts outlook after Q3 profit rises 25 pct

Adidas lifts outlook after Q3 profit rises 25 pct

Sportswear maker Adidas AG says it has raised it full-year outlook after third-quarter earnings rose by 25 percent, helped by strong demand for football products and a return to growth in its Chinese business.
Adidas on Thursday reported a net profit of (EURO)266 million ($373 million) for the July-September period, up from (EURO)213 million a year earlier.
Revenues climbed 20 percent to (EURO)3.47 billion from (EURO)2.89 billion.
The company raised its full-year outlook. It says it now expects sales to increase by about 8 percent on a currency-neutral basis _ up from a previous forecast of a mid-single-digit rise.
It forecast earnings per share ranging from (EURO)2.68 to (EURO)2.70. In August, it had predicted a figure between (EURO)2.50 and (EURO)2.62.


Updated : 2021-06-24 23:51 GMT+08:00