Adidas Lifts Outlook for Sales, EarningsBy
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.