Pursuits
Adidas Rises After Forecasting Higher Profit, Sales for Year
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Adidas AG, the world’s second-largest sporting-goods maker, rose the most in the benchmark DAX index after forecasting increased sales and profit in 2011 on higher revenue in China and other emerging markets.
Earnings per share will increase 10 percent to 15 percent this year after more than doubling in 2010, Herzogenaurach, Germany-based Adidas said in a statement today. Revenue will increase at a “mid to high single-digit” percentage pace from last year’s record 12 billion euros ($16.5 billion). The company raised its 2010 dividend more than analysts expected.