Germany's Adidas raises full-year profit outlook after record quarter

FRANKFURT, Oct 20 — German sportswear maker Adidas on ​Tuesday 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.

• ​Adidas, which competes with ⁠rivals including Nike, has this year ‌benefited from ‌demand for its retro apparel and a ⁠soccer World Cup ⁠boost as it races to roll out new styles

• Third-quarter operating profit rose to a record €1.008 billion ($1.1 billion) from €736 million a year earlier

• The company said ‌operating profit for the ​full year would be around €100 million more than previously expected

• Adidas' tariff refund, in the wake of a US court ruling, totalled around €200 million

• The company said it would reinvest around €100 million in the ​fourth quarter, resulting in a new ‌2026 operating profit ‌forecast ⁠of €2.5 billion, up from a previous forecast of €2.3 billion

• Adidas made the statements in an unscheduled earnings release ahead of ‌its full earnings ​report scheduled for October ‌29

($1 = 0.8902 euros)

(Reporting ⁠by ​Tom Sims and Alexander Huebner. Editing by Mark ​Potter)

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