Adidas raises 2024 guidance again, citing good brand momentum

(Reuters) -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 (OTC:ADDYY ) 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.

($1 = 0.9176 euros)

Source: Investing.com