The German sporting-goods company said its operating profit climbed to €1.34 billion last year from €268 million in 2023.

According to the German athletic company’s preliminary results for Q4 2024, Adidas saw revenues grow 24 percent in the period to 5.97 billion euros, up from 4.81 billion euros the same time last year. Excluding Yeezy sales in both years, currency-neutral revenues increased 18 percent, Adidas noted.

Shares in Puma dropped 15% as the market opened on Thursday after the German sportswear brand reported lower than expected fourth-quarter sales and a decline in annual profit.

Adidas AG reported better-than-expected results amid the sustained boom for retro sneakers like the Samba and more sales from its shrinking stockpile of Yeezy footwear.

Strong festive demand and the booming popularity of classic trainers propelled Adidas to better than expected profits in the final quarter of 2024, sending shares up 7 per cent on Wednesday. The German sportswear group on Tuesday evening reported an operating profit of €57mn for the three month period,

The sporting-goods company surpassed its own profit expectations amid fierce competition in the sector and as its biggest rival, Nike, continues to pursue a brand revamp strategy.

Adidas AG reported better-than-expected quarterly results, sending its shares soaring amid the sustained boom for retro sneakers like the Samba.

Adidas reported what it said were better than expected preliminary fourth-quarter results on Tuesday, with strong sales and profitability for the important holiday shopping period, sealing a successful turnaround year.