People wearing face masks walk a street during an outbreak of the 2019-nCoV coronavirus.
Artyom Ivanov | TASS via Getty Images
LONDON – Adidas is more confident on sales this year as it sees stronger than expected demand for its products and “healthy brand momentum”.
The German sporting goods retailer assumes that currency-adjusted sales will increase at a “high-teens” rate this year, with a “significant” acceleration in the second quarter, the company announced on Friday.
“This acceleration is being driven by a number of innovative product releases,” Adidas said in a statement. Major sporting events like UEFA Euro and Copa America are expected to support the deal as well.
The company posted net income of € 502 million in the first quarter of this year, compared to € 60 million in 2020. Currency-neutral sales for the company increased 27% in the reporting period.
This is a breaking news item that will be updated.