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Adidas AG reported strong third-quarter growth, with currency-neutral revenue rising significantly in most regions, although North America struggled due to declining Yeezy sneaker sales. Operating profit surged to €598 million, prompting the company to raise its annual profit target to around €1.2 billion. Shares increased by 3% in early trading, reflecting a 16% rise this year, while competitors Nike and Puma faced losses.
Adidas has reached an out-of-court settlement with rapper Ye, formerly known as Kanye West, concluding two years of legal disputes following the termination of their partnership over antisemitic remarks. CEO Bjorn Gulden confirmed that no money exchanged hands and both parties agreed to withdraw all claims, allowing them to move forward without further conflict.
Adidas AG reported strong third-quarter growth, with revenue increasing by double digits in most regions, signaling the effectiveness of CEO Bjorn Gulden's revival plan. However, North America continues to struggle due to declining sales of Yeezy sneakers. Operating profit rose to €598 million ($646 million), up from €409 million last year.
Bjorn Gulden
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Adidas reports strong sales growth amid successful revival strategy
14:43 29.10.2024
adidas and kanye west reach out of court settlement ending legal disputes
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Adidas reports strong sales growth despite challenges in North America
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