Adidas raises forecast amid boost from Chelsea payment | Fin24
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Adidas raises forecast amid boost from Chelsea payment

Jul 28 2016 09:30
Aaron Ricadela

Frankfurt - Adidas increased its full-year forecast as brand sales benefited from the Euro 2016 soccer tournament and it pocketed a payment to end a sponsorship deal with England’s Chelsea soccer club early.

Currency-neutral sales this year will increase in the "high teens," Herzogenaurach, Germany-based Adidas said in a statement on Thursday. That compares with previous a previous forecast for roughly 15% growth. Net income from continuing operations will increase 35% to 39% to €975m to €1bn, compared with previous guidance for a 25% increase.

Adidas plans to report its full second-quarter earnings on August 4.

adidas  |  retail


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