Adidas Raises Outlook After Exceeding Targets With 12% Profit Rise In '15

adidas today "raised its outlook for the second time in four months after exceeding its revenue and profit targets" for '15, according to Ellen Emmerentze Jervell of the WALL STREET JOURNAL. Based on preliminary figures for '15, adidas said that Q4 net profit rose 12% on the year to $813.38M, "following a strong performance from its Adidas and Reebok brands and double-digit sales growth in Western Europe, China and Latin America." adidas Chair & CEO Herbert Hainer said the company also experienced "accelerated momentum" in North America. The brand has "gained traction in the U.S. lifestyle sector lately, helped by its cooperation deal with rapper Kanye West and the launch of his Yeezy Boost shoe series." The company will "release its complete full-year results on March 3" (WSJ.com, 2/11).