Adidas hikes outlook despite hit to China sales

BERLIN: German sportswear company Adidas raised its outlook for full-year sales and profitability as demand soared in most of the world but took a hit in China where Western brands faced a call for a boycott of their products in late March.

Second-quarter sales soared 52% to 5.077 billion euros ($6.01 billion), while operating profit came in at 543 million euros, beating analysts' average forecasts for 4.97 billion euros and 458 million euros respectively.

Adidas pushes online sales and sustainability in five-year plan

Adidas said it now expected 2021 sales to grow up to 20% and for net income from continuing operations to reach 1.4-1.5 billion euros, up from a previous forecast for 1.25-1.45 billion euros.