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Gloucestershire Business News

Adidas raises forecasts as sales soar 52 per cent

Sportswear brand Adidas has lifted its 2021 financial outlook after its sales jumped 52 per cent in the second quarter.

The business, which has an outlet store at Gloucester Quays, said the growth was a result of revenue growth across Europe and the US, despite dips across the Asia-Pacific region.

Second quarter sales rose to £4.3billion for Adidas, reporting a operating profit of £461m. It had posted a £223million operating loss for the same period in 2020.

Adidas CEO Kasper Rorsted said: "With sports taking back center 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.

"This momentum gives us all the confidence to increase our full-year outlook despite the external challenges that our industry continues to face."

Adidas has now increased its outlook for the rest of 2021, expecting currency-neutral sales to rise by up to 20 per cent. This reflects sales growth of approximately seven per cent in the second half of the year when compared to 2020.

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