Wednesday, 27 April 2016

Adidas Sales Are Increasing Faster Than Nike's [Video]

The competition between Nike and adidas continues to heat up on the heels of the former's latest earnings report.

Today, the adidas Group said that it's bumping its projected currency-adjusted sales growth in 2016 from 10 to 12 percent to 15 percent, while it expects net profit from continuing operations to exceed its previous forecast of 10 to 12 percent to as much as 18 percent.

adidas has not specified what caused the forecast change, instead simply stating that it's experiencing "strong brand momentum." In comparison, Reuters notes that Nike has called for a single-digit increase through May 2017, which means that as of right now, adidas' sales are actually growing at a faster rate.

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