In the same period last year, Adidas had recorded revenue of €6.4bn.
Adidas CEO Bjørn Gulden: “I am extremely proud of what our teams achieved in the third quarter with actually record revenues. 12% growth for the adidas brand leading to total revenue of €6.63bn is the highest we have ever achieved as a company in a quarter.
“The environment is volatile with the tariff increases in the US and a lot of uncertainty among both retailers and consumers around the world, but our teams work hard, and our brand and our products resonate well with consumers.”
Adidas’ key metrics in Q3
The Q3 FY25 revenue growth was largely attributed to a 12% surge in currency-neutral revenues for the Adidas brand, which saw strong performance across various markets, product divisions, and sales channels.
The sportswear company stated that the preliminary results for Q3 FY25 do not include contributions from the Yeezy product line, as the remaining inventory was completely sold in late 2024. After accounting for Yeezy sales from the previous year, Adidas saw an 8% increase in currency-neutral revenues.
The gross margin showed a slight improvement of 0.5 percentage points, reaching 51.8% in the reported quarter, despite the challenges posed by adverse currency fluctuations and increased tariffs.
The company's operating profit rose significantly to €736m in Q3 FY25, from €598m in the previous year's third quarter, resulting in an operating margin of 11.1%.
Fashion and performance keep Adidas ahead
GlobalData retail analyst Chloe Tedford-Jones says Adidas’ latest results demonstrate the brand’s ability to maintain strong momentum despite facing tariff pressures and a challenging retail environment.
She explains: “The company’s ability to sustain double-digit currency-neutral growth highlights the brand’s strength and resilience, as its designs continue to resonate with consumers in terms of both fashion credentials and performance. However, continued currency headwinds could still influence reported net sales when the full Q3 results are released, even as underlying brand momentum remains strong.”
Adidas’ FY25 outlook
The sportswear brand has revised its full-year guidance for FY25, now anticipating double-digit growth in currency-neutral revenue for the Adidas brand.
Including last year's Yeezy sales, the firm expects currency-neutral revenues to rise by approximately 9%, an improvement from earlier projections of high-single-digit growth.
Operating profit is now forecasted to reach around €2bn, up from earlier estimates ranging between €1.7bn and €1.8bn.
Bjørn Gulden added: “2025 is a success for us already. I am especially happy to see that our performance business is growing strongly across categories and in all regions. The focus is now on transitioning well into 2026, which will be another exciting sports year with the Winter Olympics right at the beginning, the biggest Football World Cup ever, and many more great events to look forward to.”
Adidas will release its final set of financial results for the third quarter on 29 October 2025.
