PARIS — Boosted by robust double-digit growth in the first quarter in North America, China and Russia, Adidas AG raised its full-year 2011 revenue forecast for a second time to a high single-digit rate on a currency neutral basis, up from a mid-to-high single digit.
“We are off to a powerful start in 2011,” stated Adidas Group chief executive officer Herbert Hainer.
The world’s second largest sporting goods company said first-quarter net income leapt 25 percent to 209 million euros, or $294.6 million, from 168 million euros, or $225.6 million, in the year-ago period.
Revenues rose 22.4 percent to 3.27 billion euros, or $4.61 billion, from 2.67 billion euros, or $3.58 billion.
Dollar figures are converted at average exchange rates for the three-month period ending March 31 for the respective years.