Adidas upbeat for year end despite pandemic resurgence

BERLIN (Reuters) – German sportswear firm Adidas expects sales to return to growth in China in the fourth quarter and predicted a similar level of sales decline overall as it reported in the third when it saw a rebound from earlier coronavirus lockdowns.

Adidas said third-quarter sales fell a currency-neutral 3% to 5.964 billion euros ($7.05 billion), while operating profit fell 12% to 794 million euros, ahead of average analyst forecasts for 5.91 billion and 723 million respectively.

($1 = 0.8460 euros)

(Reporting by Emma Thomasson; Editing by Riham Alkousaa)