German sportswear giant Adidas confirmed its outlook for 2019 and boasted that it was on track for another record year.
Revenues in the third quarter rose 9% to 6.41 billion euros ($7.1 billion), besting its forecasts, with a 6% gain for Adidas and 2% at Reebok.
Adidas said growth may accelerate before the end of the year, and it is now expected to reach between 5% and 8% for 2019. Despite some pressure on margins due to increased operating costs in Q3, the company predicts net income will rise from 10% to 14% by the end of the year, to 1.88–1.95 billion euros.
“[We] remain confident about a significant top-line acceleration during the fourth quarter,” CEO Kasper Rorsted said in a statement. “2019 will be a record year, despite some challenges.”
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