UPDATE 2-Adidas hikes 2018 profit outlook on top-end shoe success [Reuters]
Nike, Inc. (NKE)
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Source: Reuters
Adidas hikes 2018 profit guidance, trims sales outlook | Reuters 2 Min Read BERLIN (Reuters) - German sportswear firm Adidas ( ADSGn.DE ) hiked its 2018 profit guidance, citing a strong financial performance in the first nine months of the year, but trimmed revenue target due to weaker-than-expected growth in western Europe. While Adidas has been taking market share from bigger rival Nike ( NKE.N ) in North America, the U.S. firm has been powering ahead in Europe, Middle East and Africa, where its sales rose 9 percent in the three months ended August. [nL4N1WC4II] Adidas had already warned that sales in western Europe were likely to stay flat in the second half of the year after the company failed to focus enough on the launch of more products. The group said on Wednesday it now saw its net income from continuing operations growing 16 to 20 percent between 1.66 billion to 1.72 billion euros ($1.90-1.97 billion), compared with previous guidance for 13 to 17 percent growth. It now e
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