for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Adidas hikes outlook despite lockdowns, supply chain issues

BERLIN, May 7 (Reuters) - German sportswear company Adidas raised its 2021 sales outlook on Friday, saying it expects strong demand for new products despite ongoing lockdowns in Europe, supply chain challenges and political tensions.

Adidas said it now expects sales to grow at a high-teens rate in 2021, compared to the forecast it gave in March for growth of a mid to high teens rate, with a jump of around 50% expected in the second quarter.

First-quarter sales rose 20% to 5.268 billion euros ($6.35 billion), ahead of average analyst consensus for 5 billion, while net income from continuing operations jumped to 502 million euros. ($1 = 0.8290 euros) (Reporting by Emma Thomasson Editing by Riham Alkousaa)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up