Adidas Reports Strong Q3 Results, Raises 2025 Outlook

Adidas AG has announced a robust performance in the third quarter of 2025, leading to an upward revision of its annual forecast. The company reported a 12% increase in currency-neutral revenues for the Adidas brand, showcasing double-digit growth across various markets, products, and channels. These results do not include contributions from the previously sold Yeezy inventory. Compared to the previous year, revenues, including previous Yeezy sales, saw an 8% rise, reaching €6,630 million.

The company’s gross margin improved to 51.8% despite challenges from unfavorable currency impacts and heightened tariffs. Operating profit saw a significant boost to €736 million with an operating margin increase to 11.1%. For 2025, Adidas now projects a 9% rise in currency-neutral revenues and an operating profit near €2.0 billion, reflecting strong brand momentum and effective cost management amidst increased U.S. tariffs.