Germany's Adidas raises full-year profit outlook after record quarter (updated)

adidas AG

Tue 17:56

Adds more details
FRANKFURT, Oct 20 (Reuters) - German sportswear maker Adidas ADSGn.DE on Tuesday raised its full-year profit outlook and reported a 37% increase in third-quarter operating profit, lifted by a US tariff refund and full-price sales.
Adidas, which competes with rivals including Nike, has this year benefited from demand for its retro apparel and a soccer World Cup boost as it races to roll out new styles
Third-quarter operating profit rose to a record €1.008 billion ($1.1 billion) from €736 million a year earlier
The company said operating profit for the full year would be around €100 million more than previously expected
Adidas' tariff refund, in the wake of a US court ruling, totalled around €200 million
The company said it would reinvest around €100 million in the fourth quarter, resulting in a new 2026 operating profit forecast of €2.5 billion, up from a previous forecast of €2.3 billion
Adidas made the statements in an unscheduled earnings release ahead of its full earnings report scheduled for October 29
($1 = 0.8902 euros)

 (Reporting by Tom Sims and Alexander Huebner. Editing by Mark Potter)
 ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))