Why Adidas (ADDYY) Stock Is Jumping Higher Today

NEW YORK (TheStreet) -- Shares of Adidas (ADDYY) are up 2.92% to $50.12 after the German sports footwear, apparel and accessories firm declared a World Cup victory over rival sporting-goods providers a day after the country's soccer team won its fourth world championship in Brazil, the Wall Street Journal reports.

The company outfitted the German national team and Argentina, the team it defeated, and is counting on the tournament to increase sales this year and is targeting soccer-related revenue of EUR2 billion, or $2.7 billion, the Journal noted..

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