Adidas raises sales outlook as demand for sportswear grows

Adidas
Adidas recently saw sales in China plummet as a state-media driven boycott continues to hammer western brands
// Adidas has raised its sales outlook for the year
// The sportswear retailer now expects sales to grow at a high-teens percentage rate

Adidas has raised its sales outlook for the year as it expects strong demand for new products despite the ongoing lockdowns across Europe.

The sportswear retailer now expects sales to grow at a high-teens percentage rate this year, compared to the forecast it gave in March.

It expects a sale rise of around 50 per cent in the second quarter.


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Adidas said the sales would be driven by new products as well as big sports events like the European soccer championship and the Copa America.

The company saw sales jump by a colossal 156 per cent in greater China in the first quarter.

At the end of the first quarter, 89 per cent of stores had reopened.

Adidas recently saw sales in China plummet as a state-media driven boycott continues to hammer western brands.

Sales dropped 78 per cent year-on-year with Chinese consumers instead favouring local alternatives like Anta Sports and Li Ning.

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