Adidas has raised its full-year guidance for the third time this year, citing a “better-than-expected” third quarter and the current brand momentum of its Samba and Gazelle trainers.

The sporting giant reported a 46% increase in operating profit from £342m (€409m) to £500m (€598m), which included a £41.8m (€50m) contribution from the sale of parts of the remaining Yeezy inventory.

Sales rose 7% to £5.39bn (€6.44bn), driven by the success of its Samba and Gazelle models.

As a result, Adidas has increased its full-year guidance and now expects its operating profit to reach £1bn (€1.2bn), up from the previous guidance of £837m (€1bn).

Currency-neutral sales are forecast to jump around 10% instead of the previously forecasted high-single-digit rate.

It comes as chief executive Bjørn Gulden has been leading a turnaround at the sportswear brand after its break-up with rapper Ye, formerly known as Kanye West, left Adidas with unsold Yeezy shoes worth £1bn.

The sports giant noted that sales of the remaining Yeezy inventory is expected to deliver around £41.8m and no further profit contribution in the fourth quarter.

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