Adidas shrugs off China boycott call to raise outlook

Acceleration would be driven by new products as well as big sports events like the European soccer championship and the Copa America

Shares in Adidas fell recently on concerns about sales in China.

German sportswear company Adidas shrugged off Chinese calls in March for a boycott of its products and raised its 2021 sales forecast, saying it expects upcoming sporting events to drive strong demand for new products.

Adidas said it now sees sales growing at a high-teens percentage rate in 2021, compared with a March forecast for mid-to-high teens growth, with a jump of around 50% expected in the second quarter.