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

This is the third time the German sportswear giant has raised its revenue forecast this year, thanks to “brand momentum” and increased demand for its flagship franchises, including the Samba and Gazelle shoe models. .

As the brand continues to recover from the loss of its once-popular YEEZY line, adidas now expects its currency-neutral revenue to grow approximately 10% in 2024, up from the previous high single-digit estimate of the brand. Additionally, the brand expects operating profit to reach €1.2 billion, a considerable increase from its previous forecast of €1 billion.

Adidas’ third-quarter revenue rose 7% to 6.438 billion euros, beating analysts’ expectations of 6.416 billion euros. Sales this quarter also increased 14% from last year, excluding Yeezy sales. Meanwhile, Adidas’ third-quarter operating profit was 598 million euros, an increase from 409 million euros last year. According to the brand, sales of existing Yeezy products amounted to around 50 million euros in profit.

The company does not expect the remaining Yeezy shares to contribute to overall profit, although its latest forecast assumes that the final products from the former collaboration will result in an additional €50 million in revenue.