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adidas On Track for Record Year as Q3 Revenues Hit $7.1 Billion

Date: November 09 2019

By: Boon Mark Souphanh

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Despite things slowing down a little at Yeezy, adidas believe they're on track for a record year, as revenues in the third quarter rose 9 per cent to 6.41 billion euros ($7.1 billion).

The result exceeded the brand’s initial forecasts, with a 6 per cent gain for adidas and 2 per cent gain at Reebok.

The good news doesn’t stop there, as growth will probably accelerate before the end of the year, expected to reach between 5–8 per cent for 2019. Despite an increase for operating costs in Q3, the company predicts net income will rise from 10 per cent to 14 per cent by the end of the year, equating to 1.88–1.95 billion euros.

‘[We] remain confident about a significant top-line acceleration during the fourth quarter,’ said adidas CEO Kasper Rørsted said in an official statement.

‘2019 will be a record year, despite some challenges.’

Pic via chinsneakers

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