Adidas has adjusted its full-year expectations upward after positive results in the third quarter. Both profit and turnover grew more than 10 % in the previous quarter.
Reached goal faster than expected
The German sports clothing brand's total turnover grew 13 % in the third quarter, up to 4.76 billion euro. That also resulted in a 311 million euro net profit, up slightly more than 10 % compared to last year when net profit was 282 million euro.
Those positive numbers have prompted Adidas to adjust its full-year forecast upward and it now expects a turnover growth of about 10 %. "Thanks to our outstanding performance during the first nine months we are reaching the 2015 goal line much faster than we had anticipated,” Adidas CEO Herbert Hainer said.
Last year constituted one of Adidas' worst years, with huge setbacks in its golfing division in particular. It increased its marketing investments ever since, especially in the United States, as it was losing ground to its eternal competitor Nike.