Oct 21 (Reuters) - Adidas shares rose 3.3% in early Frankfurt trade on Wednesday, after the German sportswear group raised its full-year outlook on the back of strong third-quarter results.
Adidas has been investing in rolling out 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 crack the two‑hour marathon barrier in April.
The group said in an
unscheduled preliminary earnings statement on Tuesday that it expected its 2026 operating profit to be around €100 million ($112 million) higher than previously anticipated, not counting a US tariff refund of €200 million recorded in the third quarter.
In total, it sees annual operating earnings of €2.5 billion, instead of the previous €2.3 billion goal, when accounting for the refund and a reinvestment of €100 million planned for the fourth quarter.
The surprise update provided “another compelling proof point of Adidas continuing to expand market share while delivering profitable growth amid a challenging environment”, Metzler analysts said in a note to investors.
J.P. Morgan analysts wrote that excluding the impact from tariffs, Adidas' quarterly gross profit and underlying operating profit exceeded market expectations by 2% and 9%, respectively.
($1 = 0.8910 euros)
(Reporting by Tristan Veyet in Gdansk and Alessandro Parodi in Paris, editing by Milla Nissi-Prussak)
