Adidas gains on improved sales during the Fifa World Cup

Adidas gains on improved sales during the Fifa World Cup

German sporting goods firm Adidas has come out with their latest quarterly reports and they have beaten their forecasts by posting a 24 percent rise in second-quarter net profit.

The company gained massively due to the recently concluded Fifa Soccer world cup. The announcement helped the company gain at the stock market as the share price went up by around 2%.

Adidas is the second largest player in the market after Nike and they reported that their net profit rose to 82 million euros. This was despite the high marketing costs of promoting their brand at the World Cup.

The quarterly sales were up by 60 percent to 2.43 billion euros. This was better than what the market had expected from them.