Adidas increases forecast – schuhkurier

Adidas exceeded its own expectations: The sporting goods manufacturer from Herzogenaurach disclosed its preliminary business results for the third quarter of 2024. According to them, currency-adjusted sales were around 10% above the previous year’s level. The company’s sales amounted to 6.48 billion euros, an increase of 7% compared to the previous year’s figure of 5.99 billion euros. According to Adidas, without Yeezy sales, sales growth was 14%.

At the same time, the gross margin increased by 2.0 points to 51.3% in the third quarter. Last year this was 49.3%. The company’s operating result increased to 598 million euros. The sale of parts of the remaining Yeezy inventory accounts for around 50 million euros.

As a result, Adidas is adjusting its forecast for the full year. Instead of an increase in the high single-digit range, the company expects a currency-adjusted sales increase of around 10%. Meanwhile, Adidas wants to achieve an operating result of around 1.2 billion euros. The previous forecast here was 1.0 billion euros.

With regard to Yeezy stocks, Adidas expects sales to cover costs for the rest of the year. This would lead to further sales of around 50 million euros without any additional profit contribution in the fourth quarter, according to the manufacturer.