BERLIN (AP) — Sportswear maker Adidas is reporting a nearly 18 percent increase in second-quarter earnings and is raising its full-year forecast — citing growth in emerging markets and the impact of major events such as football's European Championship and the Olympics.
Adidas AG said Thursday that its net earnings totaled €165 million ($203 million) in the April-June period, up from €140 million a year earlier. The company's revenue was up to €3.52 billion from €3.06 billion — an increase of nearly 15 percent.
The company says it is now targeting an increase in full-year net earnings of between 15 and 17 percent. That compares with its previous forecast of a range between 12 and 17 percent.