Adidas Plans for 10% Constant Currency Growth
Net income attributable to shareholders increased 71% to €443 million ($487 mm) in the third quarter from €259 million, as revenues gained 7% to €6,438 million ($7,075 mm) from €5,999 million and were up 10% constant currency. Adidas brand sales increased 14% CC, while sales of leftover Yeezy inventory brought in around €200 million. The results were in line with The Big a’s pre-announcement two weeks ago, in which it also raised full-year guidance, now expecting revenues to grow 10% CC in 2024 and generate about €1.2 billion in operating profit. ... Log in to view full article.