Germany's Adidas on Tuesday raised its operating profit guidance for the full year, saying it successfully mitigated part of the extra costs caused by higher US tariffs.
The maker of sports gear predicted a 2025 operating profit of about 2.0 billion euros ($2.3 billion), up from a range of 1.7 billion to 1.8 billion euros it had previously projected, thanks to a better-than-expected business performance.
Adidas had previously said it may hike prices in the US to pass on some of the cost of tariffs on imports, which it estimated would add around 200 million euros ($233.24 million) to its costs in the second half.
Adidas said third-quarter revenues increased by 12% in currency-neutral terms, and its operating profit increased to 736 million euros from 598 million euros in the same period last year.
Adidas is set to report full third-quarter results on October 29.
