Adidas Adidas' profit in the third quarter exceeded expectations, but the next two quarters will meet more difficult adjustments, mainly due to the Reebok Reebok issue.
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In a conference call with analysts on Thursday, Herbert Hainer, CEO of Adidas Adidas, said that the fourth quarter will face more difficult challenges than last year because of the termination of Reebok's agency relationship with NFL.
The high profits of Adidas Adidas in the fourth quarter of last year relied mainly on the hosting of the Olympics, Paralympics and the European Cup.
In the currency-neutral situation, Adidas Adidas lowered its sales forecast for next year to high single-digit growth and revenue is expected to increase by 15-17%, depending on the exchange rate of approximately 770 million euros to 785 million euros, or 937.14 million to 1 billion euros. Dollars.
Analysts warned that the Reebok brand and the Southern European market are the most challenging key points.
In the third quarter, excluding the exchange rate impact on Adidas, adidas sales rose 10%, while Reebok's Reebok revenue decreased by 25.3%, partly due to agency issues and negative business impact in India.
In the first three months ended September 30, the German sporting goods giant’s net profit increased by 13.5% to 344 million euros, which was equivalent to US$430.4 million at the current exchange rate. Revenue rose by 11.5% to 4.17 billion euros, according to the current exchange rate of 52.2 billion US dollars.
Adidas Adidas' profit in the third quarter exceeded expectations, but the next two quarters will meet more difficult adjustments, mainly due to the Reebok Reebok issue.