Adidas raises sales forecast

Large sportswear manufacturer Adidas AG has lifted its sales forecast for the year after improved first quarter sales resulting from the forthcoming FIFA World Cup. The company saw its net income rise to €168m (£145m) in the first quarter from last year and is expected to see retail sales rise faster this year off the back of the world cup and new store openings.

Adidas, the largest sportswear manufacturer in Europe and the second biggest sportswear manufacturer in the world after its US rival Nike, will outfit 12 teams at this summer’s world cup, more than Puma who will equip seven teams and Nike who will sponsor 10 teams.

The sportswear giant also owns troubled sportswear company Reebok but anticipates sales of soccer-related products soaring this year as the Reebok brand showed positive signs of revival.

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