THE RETAIL BULLETIN - The home of retail news
Lest we forget
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
THE Retail Conference
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Adidas raises full year forecast

Adidas has increased its full year outlook after revenues in its second quarter grew by 51% to €5.077 billion. The company said the uplift was driven… View Article

SPORTS AND LEISURE NEWS

Adidas raises full year forecast

Adidas has increased its full year outlook after revenues in its second quarter grew by 51% to €5.077 billion.

The company said the uplift was driven by increases in all market segments except Greater China. Revenues in Latin America more than tripled during the quarter while sales in Asia-Pacific grew by 66% despite the negative impact of extended Covid-19 lockdowns in the region. In addition, currency-neutral sales in EMEA and North America almost doubled.

Adidas now expects currency-neutral sales to increase at a rate of up to 20% year-on-year in 2021, driven by strong double-digit improvements in all markets. This new outlook reflects sales growth of up to 7% in the second half of the year compared to the 2020 level, In addition, net income from continuing operations is now projected to increase to between €1.4 billion and €1.5 billion compared to a previous forecast of €1.25 billion to €1.45 billion.

Adidas chief executive Kasper Rorsted said: “With sports taking back centre stage this summer, we delivered a very successful quarter. Driven by the strength of our brand and better than expected demand for our products, we saw an acceleration in our top- and bottom-line.

“Sales in our strategic growth markets EMEA and North America almost doubled. Revenues in our key categories Football and Outdoor even grew at triple-digit rates. The share of full-price sales increased strongly, fuelling exceptional profitability improvements. This momentum gives us all the confidence to increase our full-year outlook despite the external challenges that our industry continues to face.”

Subscribe For Retail News