Adidas increased currency-neutral sales by 7% year on year to €7.252 billion in the third quarter of 2026, while operating profit rose 37% to €1.008 billion, marking the German sportswear group’s highest quarterly operating profit on record.
Following the preliminary results, Adidas raised its full-year operating profit forecast to around €2.5 billion, up from its previous estimate of €2.3 billion.
Gross margin reached 54.3%, supported in part by the return of approximately €200 million in US tariffs. The improvement in profitability comes as the company continues to benefit from demand across key performance categories, despite pressure in parts of its lifestyle footwear business.
Chief executive Bjørn Gulden described the quarter as a record period for both revenue and operating profit. He highlighted profitable growth in football, running and training, alongside strong demand for new apparel collections.
However, Gulden acknowledged that lifestyle sports footwear remains challenging, with excess inventory and market-wide discounting weighing on the segment.
The results underline the contrasting trends across Adidas’ business: performance categories continue to drive profitable growth, while inventory levels and promotional pressure remain key challenges for lifestyle footwear.