Adidas AG (ADDYY) increased its full year revenue and profit forecast Thursday amid strong sales for its sportswear business and its divestiture of ventures like CCM hockey and its golf equipment business.
The German shoe and apparel maker now expects net income from continuing operations to grow between 26% and 28%, up from its previous view of 15% growth.
Sales not adjusted for currency are expected to increase between 17% and 19%, up from the company's previous 14% growth view.
Adidas announced Thursday that it reached an agreement to sell its CCM hockey unit to Canadian private equity firm Birch Hill Equity Partners for $110 million.
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