Adidas Reports Growth In Q3 Revenue But Warns of Sales Decline

Adidas "returned to growth in the third quarter" but warned that the resurgence of the coronavirus outbreak will "weigh on its financial results for the next three months." The brand announced that income for the period ended Sept. 30 amounted to $683M and earnings per share were $3.31, compared with the prior year’s profits of €644M and earnings per share of €3.26. Analysts had predicted earnings of $3.37 per share. 

Revenues, on the other hand, decreased 7% to $7.04B. For ecommerce, Adidas saw a gain of 51% on a currency-neutral basis. Its direct-to-consumer business advanced 13%, accounting for 35% of total sales in the quarter. Its wholesale performance climbed "sharply" but was still below that of last year (FOOTWEARNEWS.com, 11/10).