Adidas raised its profit guidance on robust footwear demand

Adidas has raised its full-year profit target for 2024, citing strong ongoing demand for its legacy footwear products. The company now expects to generate a profit of $745 million for the full year, a significant increase from its previous guidance of $532 million. Adidas also expects to sell its remaining remaining Yeezy products, including the iconic Samba sneaker.

Adidas shares rise 6% after first-quarter profit hike, improved outlook. Company raised full-year guidance and reported first- quarter profit hike. Shares of Adidas jumped on Wednesday after the company raised its full year guidance. Adidas shares rose 6% in the first quarter, according to preliminary figures.