Adidas has increased its revenue projections for 2024 following a robust third quarter, with revenues rising 7% year-on-year to €6.44 billion (US$7.02 billion).
The German sportswear giant’s results exceeded expectations, reflecting continued positive momentum since its split from rapper Ye and the closure of its Yeezy footwear line two years ago.
The strong Q3 figures come as Adidas outperforms rival Nike, which recently saw its own quarterly revenues decline by 10%.
Adidas now anticipates a 10% currency-neutral revenue growth for the year, with operating profit expected to reach €1.2 billion (US$1.31 billion), an increase from the previous forecast of €1 billion (US$1.09 billion).
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