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Adidas Lifts Outlook for Sales, Earnings

Updated on
  • German sporting-goods company sells CCM hockey to Birch Hill
  • Net income to increase as much as 28% for year, company says

Adidas AG shares rose after the German sneaker maker increased its revenue and profit forecasts, helped by strong sportswear sales and a brand streamlining that includes a disposal of the CCM hockey business.

The company expects net income from continuing operations to rise 26 percent to 28 percent for the full year, up from as much as 15 percent, it said late Thursday. The shares climbed as much as 7.4 percent in early Frankfurt trading on Friday.