adidas has raised its full-year 2025 guidance following double-digit growth across regions, product categories and sales channels in the third quarter (Q3) of the year.
The German sportswear company now forecasts operating profit of €2bn ($2.32bn), up from its previous guidance of between €1.7bn and €1.8bn.
“The improved profitability outlook reflects continued brand momentum, the better-than-expected business performance, as well as the company’s successful efforts to partly mitigate the additional costs resulting from increased US tariffs,” the company said in a statement.
Q3 revenue rose to €6.63bn from €6.44bn a year earlier, despite a negative translation effect of more than €300m from a stronger euro.
Currency-neutral sales for the adidas brand advanced 12%, equating to more than €700m in absolute growth.
Operating profit increased 23% year on year to €736m, with operating margin improving by 1.8 percentage points to 11.1%.
In Q3, net income reached €485m, with the company noting headwinds from hyperinflation-related effects.
Growth spanned both footwear and apparel. Footwear sales for the adidas brand rose 11% on a currency-neutral basis, while apparel climbed 16%.
Performance segment revenue increased 17%, led by double-digit gains in running and football. Running grew by more than 30%, supported by adizero.
Lifestyle revenue for the brand was up 10%, driven by double-digit growth in Originals.
Regionally, currency-neutral net sales for the adidas brand increased 12% in Europe, with double-digit gains in both wholesale and direct-to-consumer (DTC).
Revenues also rose in Greater China (+10%), emerging markets (+13%), Latin America (+21%), and Japan/South Korea (+11%), with particularly strong DTC momentum across all regions.
In North America, brand revenue grew 8%, reflecting double-digit increases in footwear and apparel, while accessories declined.
All sales channels delivered double-digit growth on a currency-neutral basis. Wholesale revenue increased 10%, supported by strong sell-through at retail partners and greater shelf space.
Own retail sales rose 13%, driven by like-for-like gains and continued store investments.
E-commerce advanced 15%, building on more than 25% growth in the same quarter of the previous year, contributing to a 14% rise in the brand’s DTC business in Q3.
adidas CEO Bjørn Gulden stated:“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 € 6.63bn 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.
“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.”
