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German sportswear company Adidas said it expects a significant acceleration of sales in the fourth quarter after it reported stronger-than-expected sales and operating profit for the third quarter as it returned to growth in Europe.
Third-quarter sales rose a currency-adjusted 6% to 6.41 billion euros ($7.10 billion), ahead of average analyst forecasts for 6.32 billion euros, while operating profit was flat at 897 million euros, also beating analyst consensus for 882 million euros.
Chief Executive Kasper Rorsted said he remained confident of a significant pick up in sales in the fourth quarter and confirmed a full-year outlook for currency-neutral sales growth of 5-8% and net income from continuing operations of between 1.88 and 1.95 billion euros.
