Adidas reports 11% rise in earnings

Herzogenaurach, Germany — Sportswear company Adidas has reported an 11% year-on-year rise in its fiscal third quarter operating profit, to €563 million, on sales – net of currency factors – of €5.4 billion – 17% higher compared to the same quarter a year ago.

The gains were linked to “strong momentum” in its Adidas brand with revenues up 20% on a currency-neutral basis. With the exception of Russia/CIS Adidas recorded double-digit growth in every geography. Reebok saw its revenue expansion grow by 7% during the quarter,…

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