Consumer
Adidas Lifts Forecast Amid Strong Sales of Sambas and Yeezys
- German sneaker company says sales rose 11% in second quarter
- Lower costs, less discounting and rising demand boost group
Shrink-wrapped limited edition Adidas AG 'Yeezy' model trainers at a resale store in London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Adidas AG raised its annual profit target for the second time in three months amid soaring demand for classic sneakers like the Samba and more sales from the shrinking stockpile of Yeezy footwear.
The German sportswear company now expects to generate operating profit of around €1 billion ($1.09 billion), according to a statement. That’s up from the previous forecast of €700 million and in line with analyst estimates.