BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - adidas (ADDYY.PK, ADDDF.PK) said it saw an acceleration in its top- and bottom-line in the second quarter driven by the strength of brand and better-than-expected demand for the company's products. Also, the company has increased its top- and bottom-line outlook for 2021.
For the quarter ending June 30, 2021, net income from continuing operations was 387 million euros compared to a loss of 243 million euros, last year. Profit per share from continuing operations was 1.93 euros compared to a loss of 1.13 euros.
Second-quarter net sales were 5.08 billion euros, up 51.5% from previous year. Currency-neutral sales were up 55%. The top-line expansion in the second quarter was driven by increases in all market segments except Greater China.
adidas now expects currency-neutral sales to increase at a rate of up to 20% year-over-year in 2021, driven by strong double-digit improvements in all markets. Net income from continuing operations is now projected to increase to a range of 1.4 billion euros to 1.5 billion euros, revised from prior guidance range of 1.25 billion euros to 1.45 billion euros.
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