Analysts drew contrasts with Nike’s struggling performance after Adidas reported another beat-and-raise quarter.

Adidas on Tuesday raised its full-year sales and profit guidance, citing better than expected performance in the third quarter and good brand momentum as it benefits from demand for its retro three-striped Samba and Gazelle shoes.

(OTCQX:ADDYY) (OTCQX:ADDDF) released its preliminary results for Q3, showcasing a strong performance that exceeded market expectations and brand momentum for higher estimates for sales and profit in 2024.

adidas on Tuesday increased its 2024 sales forecast after reporting better-than-expected results in the third quarter of this year, according to Reuters.

After a better-than-expected third quarter, German sportswear manufacturer Adidas has once again raised its forecasts for the current year. The company announced after the market closed from its headquarters in the Bavarian town of Herzogenaurach on Tuesday that operating profit is now expected to reach around €1.