The German sportswear giant said on Thursday that it now expects currency-adjusted sales growth of between 9% and 10% for the full year, improving on its previous forecast of high single-digit growth.
The upgraded guidance follows a solid performance in the three months ending June, with quarterly revenue rising 14% on a currency-adjusted basis to €6.74 billion ($7.72 billion). The figure exceeded the €6.63 billion forecast by analysts in a company-compiled poll, reflecting continued consumer appetite for Adidas products despite a challenging retail environment.
While sales surpassed expectations, profitability came under pressure as the company significantly increased its marketing investments during the quarter.
Adidas maintained its forecast for operating profit of around €2.3 billion for the full year, indicating confidence that stronger sales will support earnings despite higher operating costs.
During the April-to-June period, operating profit increased 5% to €574 million, but the result fell short of analysts' consensus estimate of €623 million.
The company attributed the weaker-than-expected profit performance to a sharp increase in marketing expenditure, with promotional spending rising by 30% as Adidas rolled out major advertising campaigns tied to the FIFA World Cup.
The investment in marketing forms part of the company's broader strategy to strengthen brand visibility and capitalize on heightened global interest in football, while also supporting demand for its latest lifestyle and retro-inspired product lines.
In a separate announcement, Adidas confirmed a leadership change in its finance department. The company said Birgit Kretschmer will succeed Harm Ohlmeyer as Chief Financial Officer at the end of the year after Ohlmeyer decided not to extend his current term.
The appointment is expected to ensure continuity in the company's financial leadership as Adidas continues executing its growth strategy and seeks to build on the momentum generated by strong consumer demand and improved sales performance.