Adidas has raised its full-year guidance after witnessing better-than-expected results in the third quarter.

The sports apparel retailer is now anticipating a 10 per cent revenue increase for the year, up from the previous high single-digit rate forecast.

Full-year operating profit is estimated to reach around €1.2 billion (US$1.307 billion), rising from last year’s € 1.0 billion.

The new guidance comes as third-quarter revenue rose 7 per cent to €6.44 billion ($7.01 billion) and gross margin improved to 51.3 per cent.

Operating profit soared 46.2 per cent to €598 million ($651 million), including a contribution of around €50 million from selling parts of the remaining Yeezy inventory.

Meanwhile, the expected sale at an average cost of the remaining Yeezy inventory in the remainder of the year will result in additional sales of around €50 million without further profit contribution.