Adidas AG’s running and football shoes helped propel growth in the third quarter as the German brand looks to build on momentum from its success with retro sneakers like the Samba.
Both running and football products grew by a “strong double-digit” percentage, the company said Wednesday, elaborating on preliminary results published last week. Running expanded by more than 30 percent on robust uptake of Adizero models including the Evo SL.
Chief executive officer Bjoern Gulden is looking to sustain a rebound at Adidas that kicked off two years ago with the revival of the classic Samba sneaker. The brand is trying to generate more popular apparel and sports products and narrow the gap with rival and industry leader Nike Inc.
The shares rose as much as 1.1 percent in early German trading. The stock is down about 16 percent in the past 12 months, while cross-town rival Puma SE has fallen by half and Nike by 14 percent.
Adidas impressed investors with its profitability in the third quarter, but disappointed with the trajectory of its revenue growth. It has been contending with the negative effects of a stronger euro and weaker US dollar, among other currency swings, and is looking to minimize the effects of US President Donald Trump’s widespread tariffs.
The stronger euro led to a more than €300 million ($349 million) negative impact on third-quarter sales, Adidas said. The only region where Adidas failed to book double-digit revenue growth was North America, where currency neutral sales increased by 8 percent in the quarter. Greater China grew by 10 percent and Europe by 12 percent, Adidas said.
Running Shoes
Adidas is playing catch up in the running shoe boom, having missed out on the initial surge in consumer demand for comfortable trainers that brands like On Holding AG and Hoka capitalised on. While Adidas maintained its relevance in the professional ranks, with top runners winning major marathons in three-striped shoes, it’s now looking to grab a greater share of the much bigger market for the jogging and walking masses.
On the football side, Adidas cited strong demand for products related to its new partnership with Liverpool FC, along with updated versions of its F50 and Predator cleats.
Adidas’s lifestyle products posted a 10 percent growth in sales, backed by continued “healthy demand” for the retro sneakers like the Samba and Gazelle that received updates in colors and materials. The company has also begun to scale up supplies of its Superstar sneaker, a franchise that Gulden hopes will sustain the buzz of Adidas’s casual footwear.
By Tim Loh
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