The German sportswear giant saw its "highest revenue ever" over a quarter and forecasts operating profit of 2.5 billion euros, up from 2.3 billion euros, for the full year.

BERLIN – German sportswear giant Adidas raised its full-year guidance after posting record revenue and operating profit in the third quarter, as double-digit growth in most regions compensated for a weak performance in Europe.

The company said revenues grew 9 percent during the three-month period to 7.25 billion euros, setting a new record for quarterly growth. In currency neutral terms, revenues were up 7 percent.

The company had communicated the results in a preliminary press release earlier this month and confirmed them with an official announcement on Thursday morning in Germany.

In a statement, Adidas chief executive officer Bjørn Gulden described the three months to Sept. 30 as a “great quarter” for Adidas, one which brought in the company’s “highest revenue ever” where sales in almost all markets grew in double digits.

But in the company’s home market and its biggest, Europe, Adidas’ sales actually fell 4 percent to 2.24 billion euros.

This region was “impacted by the company’s conservative sell-in approach amid high inventory levels in the marketplace and promotional activity in the lifestyle footwear market,” Adidas explained in its statement, adding that it expects sales to improve in this territory and to move into the high-single digits in the next quarter.

But elsewhere, double digit growth was the norm. 47 billion euros.

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