Decent third quarter for Adidas

Decent third quarter for Adidas

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.

Questions or comments? Please feel free to contact the editors


Aldi Nord and Aldi Süd collaborate for animal welfare

18/01/2018

Aldi Nord and Aldi Süd will join forces for a unique collaboration: they will launch their own animal welfare quality mark. “Fair & Gut” (Fair and Good) will launch in Germany for poultry products, but steadily expand.

Rewe uses chocolate pudding to see how little sugar is acceptable

18/01/2018

German supermarket chain Rewe has asked its customers how little sugar they can bear. It aims to lower its private label’s sugar levels, but the consumer will decide by how much.

Lidl dials down its American ambitions

18/01/2018

Lidl had hoped to have about a hundred stores in the United States by the summer, but will be forced to adjust its first-year goals. The German chain currently has 49 stores in the United States.

Carrefour looks back on difficult year

17/01/2018

Despite a fourth quarter improvement, French Carrefour has been through a very difficult year. Next week, CEO Alexandre Bompard is expected to set out new guidelines in order to give the retail giant's results a new push.

British supermarket chain Iceland gives plastic the boot

17/01/2018

British frozen food chain Iceland will be the first supermarket chain to cut all plastic packages from its private labels. By 2023, each of its 1,400 private label products will have more sustainable packaging, like cardboard and paper, alternatives to plastic.

AB InBev sells two German beers

17/01/2018

AB InBev has sold German beer brands Diebels and Hasseröder, alongside its breweries, to investment fund CKCF. The new owner wants to invest more in the two beer brands.

Back to top