“I am very pleased with our third quarter results and the continued progress made in our strategic growth areas, delivering double-digit sales increases at adidas North America as well as in Greater China and e-commerce,” said adidas CEO Kasper Rorsted. “We confirm our full-year outlook and remain confident about a significant top-line acceleration during the fourth quarter. 2019 will be a record year, despite some challenges, and another important milestone toward achieving our 2020 targets.”
ADIDAS CONFIRMS OUTLOOK FOR FY 2019
For 2019, the company continues to expect sales to increase at a rate of between 5% and 8% on a currency-neutral basis with a significant sequential top-line acceleration during the fourth quarter. The company’s gross margin is forecast to increase to a level of around 52.0% in 2019 (2018: 51.8%). The operating margin is expected to increase between 0.5 percentage points and 0.7 percentage points to a level between 11.3% and 11.5% (2018: 10.8%). This, together with continued top-line growth, is expected to once again drive a double-digit-rate improvement of the company’s bottom line: Net income from continuing operations is projected to increase to a level between € 1.880 billion and € 1.950 billion, reflecting an increase of between 10% and 14% compared to the prior year level of € 1.709 billion.