By Kim Richters 

Adidas AG on Thursday raised its full-year outlook after swinging to profit and seeing higher sales in the second quarter.

The German sporting-goods company's net profit came in at 397 million euros ($470 million) in the three-month period, compared with a loss of EUR295 million a year earlier.

Sales increased 51.5% to EUR5.08 billion.

"From a channel perspective, the company's top-line increase was characterized by a strong recovery from the material revenue decline in its physical distribution channels during the second quarter of 2020, when the global coronavirus pandemic had caused a very large number of temporary store closures," it said.

Wholesale revenues and sales in the company's own-retail stores grew at a high-double-digit rate, while e-commerce revenues fell 14% in the second quarter 2021.

For the full year 2021, Adidas now expects currency-neutral sales to grow up to 20% compared with 2020 and net income from continuing operations to be between EUR1.4 billion and EUR1.5 billion.


Write to Kim Richters at


(END) Dow Jones Newswires

August 05, 2021 02:13 ET (06:13 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Historical Stock Chart
From Aug 2021 to Sep 2021 Click Here for more Adidas (QX) Charts.
Historical Stock Chart
From Sep 2020 to Sep 2021 Click Here for more Adidas (QX) Charts.