Adidas confirms preliminary results, raises guidance
Erik Svenson is a passionate arts journalist with over five years of experience in cultural reporting. He graduated from Minnesota State University and has worked for various arts publications in the region, highlighting local artists and events.
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Oct 29 (Reuters) German sportswear maker Adidas on Thursday confirmed its previously released results for the third quarter and raised its guidance for the year, citing strong sales of its running and football lines. • In an unscheduled earnings release last week it raised its full-year profit outlook and reported a 37% increase in third-quarter operating profit, lifted by a US tariff refund and full-price sales. • Marketing and point-of-sale expenses were up 4% to €833 million ($929.79 million), reflecting additional brand investments around the World Cup throughout July as well as normalizing marketing spend since August. • The company has been investing in new styles as the popularity of its Samba and Gazelle sneakers gradually fades, including the launch of its lightest‑ever racing shoe, the Adizero Adios Pro Evo 3, which helped Kenyan runner Sabastian Sawe to crack the two‑hour marathon barrier in April. • In the quarter, performance revenues were up 14% on a c