Adidas Raises 2026 Profit Outlook After Record Q3

Adidas on October 20, 2026 raised its 2026 operating-profit forecast to about €2.5 billion from €2.3 billion after preliminary third-quarter revenue hit a record €7.25 billion, up 9 percent, and operating profit reached a record €1.01 billion, up 37 percent. Currency-neutral sales rose 7 percent. Gross margin improved 2.5 points to 54.3 percent, helped by an about €200 million U.S. tariff refund and full-price sales; currency was a headwind. Results beat analyst expectations of about €7.22 billion in revenue and €800-900 million in operating profit. CEO Bjorn Gulden said the company achieved its highest quarterly revenue and operating profit ever and called brand, product and people its strength. He pointed to marketing-driven brand heat, profitable growth in Football, Running and Training, and strong apparel demand, while saying footwear lifestyle faces excess inventory and discounting that should normalize. Adidas will reinvest about €100 million in the fourth quarter and keep full-year currency-neutral revenue growth guidance at 9% to 10%. Official Q3 results publish October 29.