Adidas Beats Estimates as World Cup Drives Growth | News & Analysis

HERZOGENAURACH, Germany — Adidas AG posted second-quarter revenue and profit that beat analyst expectations on growth in America and Asia that got a boost from the World Cup.

Revenue adjusted for currency swings rose 10 percent to 5.26 billion euros ($6.1 billion), driven by a 12 percent gain at its namesake shoe brand, the Herzogenaurach, Germany-based company said in a statement Thursday. Analysts on average predicted 5.17 billion euros.

Adidas saw double-digit growth in North America, Asia-Pacific, Latin America and Russia. It also reiterated a forecast for 10 percent currency-adjusted sales growth this year.

“We delivered another strong quarter on the back of a successful World Cup activation,” chief executive Kasper Rorsted said in the statement.

Adidas is riding the wave of “athleisure” wear, benefiting from increased popularity of athletic apparel worn outside of gyms and tracks, along with a push for healthier lifestyles and a rising middle class in China.

Adidas shares are down 1.5 percent in the past year, compared with gains of more than 15 percent for Puma SE and 34 percent for Nike Inc.

By Richard Weiss in Frankfurt; editors: Eric Pfanner, Phil Serafino and Marthe Fourcade.

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