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Adidas Q3 Profit Down 1.8%; Confirms Full-year Outlook - Quick Facts

(RTTNews) - Adidas (ADDYY.PK, ADDDF.PK) reported that its third-quarter net income attributable to shareholders decreased 1.8 percent to 646 million euros from 658 million euros in the prior year. But, earnings per share were 3.27 euros, same with last year.

"We confirm our full-year outlook and remain confident about a significant top-line acceleration during the fourth quarter. 2019 will be a record year, despite some challenges, and another important milestone toward achieving our 2020 targets," said Kasper Rorsted, Adidas CEO.

Net income from continuing operations for the third-quarter decreased about 2% to 644 million euros from last year's 656 million euros. The latest-quarter result included a negative impact from the adoption of IFRS 16 of 15 million euros, reducing year-over-year net income growth by about 2 percentage points.

But, quarterly revenues grew 9.1% to 6.41 billion euros from 5.87 billion euros in the prior year.

Currency-neutral revenues for the quarter grew 6%. Revenues at the adidas brand also increased 6%. This improvement reflected high-single-digit growth in Sport Performance, driven by increases in the training, running and outdoor categories.
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