Adidas revenue up 3 percent in third quarter

Adidas’ quarterly operating profit rose to 736 million euros from 598 million euros a year earlier, exceeding expectations of 688 million euros. Gross margin increased by 0.5 percentage points to 51.8 percent “despite the adverse effects of US trade tariffs and exchange rate developments”. The company has improved its revenue forecast for the current year and now expects growth of around 9 percent compared to the previous estimate of 7-9 percent. Adidas raised its forecast for annual operating profit from 1.7-1.8 billion euros to 2 billion euros.