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.

For the full year revenue was also up double-digits, though CEO Bjørn Gulden said the brand is “not yet where we want to be long term.”

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

Adidas wrapped up 2024 on a high note with better-than-expected results in the fourth quarter. According to the German athletic company's preliminary results for Q4 2024, Adidas saw revenues grow 24 percent in the period to 5.