Sportswear brand Adidas pulled in a profit and sales boost during its third quarter.  

The business, which suffered a cyber-attack earlier this year, saw brand Adidas grow 12% currency-neutral, leading to record net sales of £5.81bn (€6.6bn) over Q3.

Operating profit jumped 23% to £648m (€736m) over the period, while its gross profit rose 4% to £3,023m (€3,435m).

Operating margin improved to 1.8 percentage points to 11.1%, while the retailer’s net income hit £427m (€485m) as “hyperinflation-related effects” weighed on its financial result. 

Adidas CEO Bjørn Gulden said: “I am extremely proud of what our teams achieved in the third quarter with actually record revenues. 

“12% growth for the adidas brand leading to total revenue of €6.63 billion is the highest we have ever achieved as a company in a quarter. I am especially happy to see that our performance business is growing strongly across categories and in all regions.”

Looking ahead, Adidas forecast that its operating profit for FY25 would jump by around £1.76bn (€2bn), having previously estimated it would rise by between €1.7 to €1.8bn.

It also forecast company revenues would increase by around 9%, with the brand previously predicting a high-single-digit rise.

Gulden continued: “The environment is volatile with the tariff increases in the US and a lot of uncertainty among both retailers and consumers around the world, but our teams work hard, and our brand and our products resonate well with consumers.

“Given the positive development in Q3, we have narrowed our top-line guidance and raised our full-year EBIT outlook from between €1.7 billion and €1.8 billion to around €2 billion.

“2025 is a success for us already. 14% growth for the adidas brand year-to-date and an EBIT margin above 10% is proof how strong our brand is.”

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