HERZOGENAURACH, Germany — Adidas AG increased its full-year forecast as brand sales benefited from the Euro 2016 soccer tournament and it pocketed a payment to end a sponsorship deal with England’s Chelsea soccer club early.
Currency-neutral sales this year will increase in the "high teens," the Herzogenaurach, Germany-based Adidas said in a statement Thursday. That compares with previous a previous forecast for roughly 15 percent growth.
Net income from continuing operations will increase 35 percent to 39 percent to €975 million ($1.1 billion) to €1 billion, compared with previous guidance for a 25 percent increase. Adidas plans to report its full second-quarter earnings on Aug. 4.
By Aaron Ricadela; editors: Nate Lanxon and Angela Cullen.