# Adidas raises 2024 guidance again, citing good brand momentum
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-10-16
Category: Business
Category URL: https://startupobserver.com/category/business/
Meta Title: Adidas Raises Full-Year Guidance After Strong Q3 Performance
Meta Description: Adidas raises full-year sales and profit guidance after better than expected Q3 performance. 10% revenue increase, now projecting 1.2 billion euros profit.
URL: https://startupobserver.com/adidas-raises-2024-guidance-again-citing-good-brand-momentum/

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(Reuters) -Adidas on Tuesday raised its full-year sales and profit guidance, citing better than expected performance in the third quarter and good brand momentum as it benefits from popularity of its three-striped Samba and Gazelle shoes.

The German sportswear brand raised its forecasts for the third time this year, saying it now expected currency-neutral revenues to increase by around 10% this year, having previously forecast a high single-digit rate.

Adidas also raised its profit forecast for the year to 1.2 billion euros ($1.31 billion) from 1 billion euros.

Over the third quarter, Adidas revenue grew 7% to 6.438 billion euros, slightly above analysts’ estimates of 6.416 billion euros.

($1 = 0.9176 euros)

(Reporting by Isabel Demetz and Tristan Veyet in GdanskEditing by Tomasz Janowski)


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