Adidas raises on stellar Q2

Adidas has closed the second quarter marked by profits substantially doubled to 291 million euro. Earnings per share rose from 0.73 to 1.42 while revenue grew by 13% to 4.42 billion. The German sportswear giant has improved to almost 20% from previous estimates of 15% predicting sales growth during the year.

Greater China once again saw the greatest top-line growth, with sales up 30% in the quarter, while sales in western Europe up by 29% and 26% higher in North America, where Nike is still No. 1 with a 21% market share in 2015, according to Euromonitor International in London.

"The stellar financial performance in the second quarter is proof positive that our strategy is paying off," said Adidas CEO Herbert Hainer, who said the company is putting the consumer "at the heart of everything we do" to make the brands more desirable.

"I am proud to confirm that we are in great shape. 2016 will be a year of records for the Adidas Group. But we will not stop there. In the years to come, we will continue to grow across all categories, channels and geographies and drive our profitability to new heights", CEO added.