#Retail & Brands

2023-10-19

Adidas announces preliminary third quarter results and increases full year guidance

adidas today announced preliminary results for the third quarter of 2023. In Q3, currency-neutral revenues increased 1% versus the prior year level. In euro terms, the company’s revenues declined 6% to € 5.999 billion (2022: € 6.408 billion). The company’s gross margin improved 0.2 percentage points to 49.3% in Q3 (2022: 49.1%). Operating profit reached € 409 million during the quarter (2022: € 564 million), reflecting an operating margin of 6.8% (2022: 8.8%). While the company’s performance in the quarter was again positively impacted by the sale of parts of its remaining Yeezy inventory, the underlying adidas business also developed better than expected.

Consequently, the company has updated its full year guidance: adidas now expects currency-neutral revenues to decline at a low-single-digit rate in 2023 (previously: decline at a mid-single-digit rate). At the same time, the company’s underlying operating profit – excluding any one-offs related to Yeezy and the ongoing strategic review – is now anticipated to reach a level of around €100 million in 2023 (previously: around break-even level).

Including the positive impact from the two Yeezy drops in Q2 and Q3, the potential write-off of the remaining Yeezy inventory of now around € 300 million (previously: € 400 million) and one-off costs related to the strategic review of up to € 200 million (unchanged), adidas now expects to report an operating loss of around € 100 million in 2023 (previously: loss of € 450 million).

textile.4U publishes special edition “Top 100 Textile Recycling Companies 2025”

With a comprehensive 176-page special edition, textile.4U is dedicating its latest issue entirely to one of the most dynamic and influential topics in today’s textile industry: textile recycling. The new issue, published exclusively in high-quality print, presents the Top 100 textile recycling companies researched and selected by TexData – organizations that already play a key role in the transition to circular textiles or are expected to have a significant impact in the near future.

Responsible Textile Recovery Act of 2024 signed by Governor

Senator Josh Newman (D-Fullerton) is proud to announce that Senate Bill 707 (SB 707), the Responsible Textile Recovery Act of 2024, has been signed into law by the Governor of California, Gavin Newsom. This groundbreaking legislation establishes the country’s first Extended Producer Responsibility (EPR) textile recycling program, marking a significant step forward in the state’s efforts to combat waste and promote sustainability.

Modtissimo promotes sustainability with 28 coordinates in the Green Circle

Modtissimo is proving more and more to be a textile and clothing show that delivers the latest innovations in the area of sustainability, with the iTechStyle Green Circle being the main showcase for companies' creations. In this 60+4 edition, taking place on 12 and 13 September, 28 coordinates will be exhibited in a section organised by CITEVE and curated by Paulo Gomes.

The EU and Egypt team up to mobilise private sector investments at Investment Conference and sign a Memorandum of Understanding underpinning €1 billion in macro-financial assistance for Egypt

At the EU-Egypt Investment Conference, co-organised by the EU and the Government of Egypt on 29-30 June, the EU and Egypt are teaming up to intensify private sector investments in Egypt. They are also signing a Memorandum of Understanding (MoU) for the disbursement to Egypt of up to €1 billion in Macro-Financial Assistance.

Recover™ secures multi-year recycled cotton agreement with H&M

Recover™ has signed a multi-year agreement with H&M to support the integration of its recycled cotton fiber, RCotton, for use in H&M’s products. Since early 2024, H&M and Recover™ have collaborated on product development, which now enables scaled commercial introduction of Recover™ mechanically recycled cotton into H&M’s collections.

GORE-TEX® KIDSWEAR launches innovative membership scheme for kids’ jackets

With its revolutionary new membership model, GORE-TEX® Kidswear now offers families a simple, flexible and sustainable way of kitting out their children in top-quality jackets. It is aimed at the parents of children aged between five and ten and kicks off with a choice of functional winter jackets.

Toray develops recycling technology that retains carbon fiber strength and surface quality

Toray Industries, Inc., announced today that it has developed a recycling technology that can decompose diverse carbon fiber reinforced plastics (CFRP) made from thermosetting resins while retaining the strength and surface quality of those fibers. The company drew on this technology to create a nonwoven fabric employing recycled carbon fibers.

Panty liners prevent bacterial vaginosis

Worldwide, almost one third of women of childbearing age suffer from bacterial vaginosis. This is when the sensitive microbiome of the vagina becomes unbalanced. Such a disorder of the vaginal flora can cause urogenital infections, abscesses on the ovaries or fallopian tubes or premature births. This significantly increases the risk of infertility in women and of contracting a sexually transmitted disease or HIV.

PERFORMANCE DAYS sets benchmarks with record attendance & strong industry presence

With around 4,500 professional visitors and 515 exhibitors, PERFORMANCE DAYS closed its doors on October 30, 2025, after two highly successful days in Munich. Expanded show areas, an international audience, a top-class Expert Talks program, and an inspiring DAY 0 Conference with an innovative concept underlined one thing clearly: PERFORMANCE DAYS has become the leading business platform for the functional textile industry.