The competition between Nike and adidas continues to heat up on the heels of the former's latest earnings report.
Today, the adidas Group said that it's bumping its projected currency-adjusted sales growth in 2016 from 10 to 12 percent to 15 percent, while it expects net profit from continuing operations to exceed its previous forecast of 10 to 12 percent to as much as 18 percent.
adidas has not specified what caused the forecast change, instead simply stating that it's experiencing "strong brand momentum." In comparison, Reuters notes that Nike has called for a single-digit increase through May 2017, which means that as of right now, adidas' sales are actually growing at a faster rate.
For the first quarter of 2016, adidas revenues jumped 17 percent to €4.8 billion, which is right around $5.4 billion USD. The brand will release more details in its full quarterly earnings report next week on May 4.
