FRANKFURT, July 16 (Reuters) - German sportswear maker
Adidas is increasing its full-year earnings guidance
after a better than expected second quarter, it said on Tuesday.
The success of Adidas' low-rise multi-coloured Samba and
Gazelle sneakers, along with weaker sales at rival Nike ( NKE ),
had been expected to help Adidas deliver strong second-quarter
sales.
Operating profit for 2024 is now forecast at about 1 billion
euros ($1.1 billion), up from the previous guidance of around
700 million euros, Adidas said.
The increase comes after the company said its second-quarter
sales rose 9% from a year earlier to 5.82 billion euros.
That was ahead of analysts' average forecast of 5.58 billion
euros, according to LSEG data.
($1 = 0.9189 euros)