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Adidas beats Q1 profit forecasts with strong sales growth

Economy & businessEconomy
Adidas beats Q1 profit forecasts with strong sales growth
Key Points
  • Adidas Q1 operating profit rose 16% to €705 million, beating expectations of €647 million.
  • Sales grew over 7% to €6.6 billion, above the forecast €6.3 billion.
  • CEO Bjørn Gulden expects the men's football World Cup to boost demand further.

3 billion. CEO Bjørn Gulden said he hopes the men's football World Cup this summer will further boost demand. 'Despite many supply and transport problems, we have most of the products on the market and look forward to a fantastic event that will be good for us,' Gulden said at a press conference.

The specific supply and transport issues were not detailed, and Adidas has not updated its full-year guidance; stock market reaction was not immediately available.

Despite many supply and transport problems, we have most of the products on the market and look forward to a fantastic event that will be good for us.

Bjørn Gulden, CEO of Adidas
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Financial Times - CompaniesNRK Buskerud
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Adidas beats Q1 profit forecasts with strong sales growth | Reed News