Consumer
Adidas Surges After Holidays Lifted Sales of Sneakers
- Company says demand grows for sports, lifestyle products
- CEO Bjorn Gulden sees potential to gain global market share
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Adidas AG reported better-than-expected quarterly results, sending its shares soaring amid the sustained boom for retro sneakers like the Samba.
The German sportswear company generated operating profit of €57 million ($59 million) in the fourth quarter after a loss a year earlier, it said in a statement. That drove full-year operating profit to €1.3 billion, higher than it forecast in October, based on unaudited figures.