Adidas upgrades 2024 profit forecast to €700m from €500m due to better-than-expected Q1 results.
German sportswear giant Adidas has upgraded its 2024 profit forecast, now expecting a full-year operating profit of €700m ($744m), up from €500m. The company reported better-than-expected first-quarter results and expects currency-neutral sales to rise by a mid-to-high single-digit percentage in 2024. Despite posting a first annual loss in over three decades last year, Adidas still anticipates unfavorable currency effects to impact profitability in 2024.
April 20, 2024
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