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Adidas hikes 2024 earnings guidance after second-quarter beat
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Adidas hikes 2024 earnings guidance after second-quarter beat
Jul 16, 2024 9:42 AM

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)

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