Adidas Profit Rises Amid Strong US Demand

Adidas AG's (ADS.XE) net profit rose in the first quarter as strong sales in North America buoyed revenue, the German sports gear maker said Thursday.

Net profit increased 30% to 455 million euros ($495 million) in the January-March period, beating analysts' EUR421 million consensus estimate.

Revenue grew 19% to EUR5.67 billion, helped by growing sales of running and outdoor gear.

"As consumer demand for our products was strong across the world, we were again able to significantly improve our profitability despite ongoing currency headwinds," said Chief Executive Kasper Rorsted.

The maker of athletic apparel and footwear confirmed its guidance for the full year, saying it expects net income from continuing operations to be in the range of EUR1.20 billion to EUR1.225 billion.

Write to Friedrich Geiger at ?friedrich.geiger@wsj.com

BERLIN--Adidas AG's (ADS.XE) net profit rose in the first quarter as strong sales in North America boosted revenue, the German sports gear maker said Thursday.

Net profit increased 30% to 455 million euros ($495 million) in the January-to-March period, beating analysts' EUR421 million consensus estimate. Revenues grew 19% on the year to EUR5.67 billion, helped by growing sales of running and outdoor gear.

"As consumer demand for our products was strong across the world, we were again able to significantly improve our profitability despite ongoing currency headwinds," said Chief Executive Kasper Rorsted.

The maker of athletic apparel and footwear confirmed its guidance for the full year and continues to expect net income from continuing operations of EUR1.20 billion to EUR1.225 billion.

Write to Friedrich Geiger at ?friedrich.geiger@wsj.com

(END) Dow Jones Newswires

May 04, 2017 02:22 ET (06:22 GMT)