Retail

sales up 27% despite lockdowns

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LONDON — Adidas is more confident about sales this year as it notes stronger-than-expected demand for its products across the world, despite a boycott by consumers in mainland China.

The German sportswear retailer expects currency-neutral sales to rise at a “high-teens” rate this year, with a “significant” acceleration already seen in the second quarter, the company said on Friday.

“This acceleration will be fueled by an array of innovative product releases,” Adidas said in a statement. It expects major sport events, such as UEFA Euro and the Copa America, to also support the business.

The company reported net income of 502 million euros ($605 million) for the first quarter of this year,…



Source cnbc.com

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