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Adidas Raises Earnings Outlook For Fourth Time This Year

Adidas Again Raises Earnings Outlook

adidas this morning "raised its guidance for the fourth time this year, due to gains from the early termination of a partnership" with EPL club Chelsea and "strong quarterly sales." The company said that it "now expected currency-adjusted sales to grow at a percentage rate in 'the high teens,' up from the 15% it had earlier projected." It "forecast that net profit should increase" at a rate of 35-39%, reaching a number between $971.16M-1.1B for the full year. Quarterly earnings will be published Aug. 4 (WSJ.com, 7/28).

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