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Adidas Raises Full-Year Forecast Amid Boost From Chelsea Payment

Adidas 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.
Adidas soccer | Source: Shutterstock
By
  • Bloomberg

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.

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