July 28, 2016 / 6:48 AM / 4 years ago

Adidas raises 2016 forecast for a fourth time

The logo of Adidas logo is seen on a store in Yerevan, Armenia, June 23, 2016. REUTERS/David Mdzinarishvili

FRANKFURT (Reuters) - German sporting goods group Adidas (ADSGn.DE) raised its 2016 guidance for a fourth time this year after reporting a 21 percent jump in second-quarter sales.

The group said on Thursday it now expected its 2016 currency-adjusted sales to grow at a rate in the high teens, compared with previous guidance for a 15 percent increase.

It now also sees net profit from continuing operations rising at a rate of between 35 and 39 percent, up from a previous forecast for 25 percent growth.

Among other, Adidas is benefiting from a positive impact from the termination of a contract with soccer club Chelsea, which helped double its second quarter profit to 291 million euros (244.32 million pounds).

Reporting by Arno Schuetze; Editing by Maria Sheahan

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