adidas AG (ADS.DE,ADS.MI)announced preliminary results for the third quarter of 2025, reporting a 12% increase in currency-neutral revenues for the adidas brand. This growth was driven by robust double-digit performance across markets, product divisions, categories, and channels.
The company completed the sale of its remaining Yeezy inventory at the end of last year, so the third-quarter results for 2025 do not include any contribution from Yeezy. When factoring in Yeezy sales from the same quarter in 2024, which totaled approximately 200 million euros, currency-neutral revenues rose by 8%. In euro terms, quarterly revenues reached 6.63 billion euros, up from 6.44 billion euros in the prior year.
Quarterly operating profit surged to 736 million euros, compared to 598 million euros a year earlier.
adidas has raised its full-year guidance for 2025. The company continues to expect double-digit currency-neutral revenue growth for the adidas brand. Including Yeezy sales from the prior year, which amounted to approximately 650 million euros, currency-neutral revenues are now projected to grow by around 9%, an upgrade from the previous high-single-digit forecast. Operating profit is now expected to reach approximately 2.0 billion euros, up from the earlier estimate of between 1.7 billion and 1.8 billion euros. This improved outlook reflects strong brand momentum, better-than-expected business performance, and successful efforts to offset increased costs from higher US tariffs.
adidas will release its final third-quarter financial results on October 29, 2025.
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