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Adidas raises 2024 guidance again

The company is benefiting from the popularity of its three-striped Samba and Gazelle shoes.
The company is benefiting from the popularity of its three-striped Samba and Gazelle shoes.

Adidas has 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 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.