After a highly successful Q2, aided by the success of its World Cup activations, German footwear and sportswear giant Adidas appears to be continuing its hot streak into the third quarter.

In preliminary figures for Q3, Adidas reported record revenue of €7.3 billion (approximately $11.7 billion), up nine per cent year-over-year.

The company also recorded its highest-ever quarterly operating income, reaching €1 billion after a 37 per cent increase.

On the back of these results, Adidas raised its full-year operating profit forecast to €2.5 billion (about $4 billion).

Adidas’ official earnings report is not due to be released until next week, but the preliminary figures stand in stark contrast to Nike’s most recent report. Nike reported a four per cent year-over-year revenue decline to US$11.2 billion (about $16 billion).

Despite Nike CEO Elliott Hill’s ongoing efforts to revive the brand’s image, and the recent appointment of LVMH heir Alexandre Arnault to the Nike board, the American retailer is unlikely to see a significant profit increase in the coming quarters. This could give Adidas a further advantage in the American retail market.

On October 20, Cristina Fernández, managing director and senior research analyst at Telsey Advisory Group, said, “The company is executing well, and its growth and profitability remain strong, resulting in significant market share gains and outperformance relative to competitors, particularly Nike.”

Similarly, Neil Saunders, managing director at GlobalData, told Inside Retail , “The results from Adidas stand in marked contrast to those from Nike.

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