Athletic apparel maker Adidas AG said on Tuesday that its first-quarter profit was higher on improved demand for its Adidas branded goods along with its TaylorMade-adidas golf products.
The world's No 2 seller of sports related clothing and shoes, Adidas earned euro169 million ($261.3 million) in the January-March period compared with €128 million a year earlier and above the €156 million ($241.2 million)
that analysts polled by Dow Jones Newswires had forecast.
Sales rose 3.1 per cent to €2.62 billion ($4.05 billion) in the period compared with €2.54 billion in the first quarter of 2007. "Adidas and TaylorMade-adidas Golf were our growth engines. At Reebok, we are progressing on plan to reposition the brand," CEO Herbert Hainer said in a statement.