Sports giant Adidas-Salomon AG has said it expects earnings to be 20 per cent higher this year.

A day after market leader Nike reported a 25 per cent increase in first-quarter profit, second-biggest sportswear company Adidas said it expects sales to increase by about 5 per cent, excluding currency effects.

Adidas increased its August outlook after a recovery within its key North American division led to better-than-predicted second-quarter results.
Second-quarter net profit increased 36 per cent to €44 million, with sales rising to €1.47 billion from €1.39bn in the year-ago period.