Adidas raises 2011 forecast

Adidas raised its year forecasts again yesterday after demand for its three-stripe branded sportswear from Chinese and US customers led to a five per cent rise in second quarter sales. Adidas, the world's second-largest sports clothing company after Nike, has already raised its sales outlook twice this year as demand for sportswear soars. The German group said it now expects sales this year to be up 10 per cent and earnings per share up by 15 per cent, with demand in North America also remaining strong.