Adidas expects 650 million euro profit in 2011

Germany's Adidas expects to make around 650 million euros ($933 million) net profit this year, with consumers snapping up sporting goods despite a rainy summer and uncertain economic outlook, its chief financial officer told a newspaper. Adidas, the world's second-largest sports clothing company after Nike, has already raised its sales outlook twice this year as demand for sportswear soars.
"We expect a record result of around 650 million euros in 2011," CFO Robin Stalker told the Frankfurter Allgemeine Sonntagszeitung. The company's current record for full-year net profit is 642 million euros, achieved in 2008.