Germany’s Adidas gained ground on larger U.S. rival Nike at the start of 2016, reporting a jump in quarterly sales and profits and raising its outlook for the year, sending its shares to an all-time high.
Adidas ADDYY 0.12% is benefiting from collaborations with celebrities such as Kanye West and Pharrell Williams and has scored major fashion hits with retro Superstar and Stan Smith sneakers.
The company based in southern Germany had already said it had high hopes for 2016 thanks to a busy sporting calendar including the European soccer championship and the Rio Olympics.
