Adidas raises 2024 guidance again, citing good brand momentum

Adidas on Tuesday raised its full-year sales and profit guidance, citing better than expected performance in the third quarter and good brand momentum as it benefits from popularity of its three-striped Samba and Gazelle shoes.

The German sportswear brand raised its forecasts for the third time this year, saying it now expected currency-neutral revenues to increase by around 10% this year, having previously forecast a high single-digit rate.

Adidas also raised its profit forecast for the year to 1.2 billion euros ($1.31 billion) from 1 billion euros.

Over the third quarter, Adidas revenue grew 7% to 6.438 billion euros, slightly above analysts’ estimates of 6.416 billion euros.

Adidas is a renowned German multinational corporation specializing in athletic footwear, clothing, and accessories. It is a global leader in the sportswear industry, renowned for its iconic three-stripe logo and high-quality products. Adidas offers a diverse range of products designed for various sports and activities, including running, soccer, basketball, and more. Their commitment to innovation and performance has made them a favorite among athletes and sports enthusiasts worldwide.