Adidas upgraded its profit forecasts as a running boom boosted sports shoes sales.
The German firm now expects to make £1.7billion in annual profits in 2025, after previously forecasting a range of £1.5billion to £1.6billion.
Sales in the three months to the end of September hit a quarterly record of £5.8billion. Boss Bjoern Gulden said: ‘I am especially happy to see that our performance business is growing strongly.’
Its performance division includes sports shoes, such as its popular £220 Ultraboost running shoes, as well as football shirts.
Fitness brands are cashing in on the growing popularity of running sparked by the pandemic and health-conscious youngsters – there was a 105 per cent rise in entries from runners in their 20s for this year’s London Marathon.
But Adidas has faced fierce competition from challengers such as On and Hoka, and has axed 500 jobs at its German HQ this year.
Shoo-in: Adidas, modeled by US actress Jenna Ortega (pictured), expects to make £1.7bn in 2025, after previously forecasting between £1.5bn to £1.6bn
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