Adidas is more confident about sales this year as it notes stronger-than-expected demand for its products and a 'healthy brand momentum.'
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LONDON — Adidas is more confident about sales this year as it notes stronger-than-expected demand for its products and a "healthy brand momentum." The German sportswear retailer expects currency-neutral sales to rise at a "high-teens" rate this year, with a "significant" acceleration already in the second quarter, the company said on Friday.
"This acceleration will be fueled by an array of innovative product releases," Adidas said in a statement. It expects major sport events, such as UEFA Euro and the Copa America, will also support the business. The company reported net income of 502 million euros for the first quarter of this year, up from 26 million euros in 2020. Currency-neutral sales at the company rose 27% over the period.