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Adidas reports 18 percent rise in 2nd-quarter earnings, raises full-year outlook
BERLIN (AP) Sportswear maker Adidas is reporting a nearly 18 percent increase in second-quarter earnings and is raising its full-year forecast citing growth in emerging markets and the impact of major events such as football's European Championship and the Olympics.
Adidas AG said Thursday that its net earnings totaled 165 million ($203 million) in the April-June period, up from 140 million a year earlier. The company's revenue was up to 3.52 billion from 3.06 billion an increase of nearly 15 percent.
The company says it is now targeting an increase in full-year net earnings of between 15 and 17 percent. That compares with its previous forecast of a range between 12 and 17 percent.