Soccer and a new focus on street style has made adidas the hottest brand in the industry. And for the second time this year, the 3-Stripes has raised its full-year profit forecast.
The updated outlook has adidas net income rising between 15 and 18% up from the previous range of 10-12%.
The brand saw an increase in revenue from the first quarter of 17% with a net profit of $394.9M.
The adidas Group cited ‘strong brand momentum’ as the catalyst for the growth.
The boost is largely due to this summer’s Euro 2016 and the Rio Olympics along with a new demand for adidas styles from the classic Stan Smith to the Kanye West Yeezy brand.
More details will be available when adidas releases quarterly earnings on May 4.