- Adidas (OTCQX:ADDDF) has increased its 2016 outlook for a second time and said that strong brand momentum helped preliminary Q1 underlying net profit rise 38% to €350M as revenue jumped 17% to €4.8B.
- The German sporting-goods maker now expects 2016 net profit from continuing operations to grow 15-18% vs a prior forecast of plus 10-12% and currency-adjusted sales to grow 15% vs plus 10-12% also.
- Adidas' full Q1 results are due out on May 4.
- Shares are +6.7% in Frankfurt.