Adidas shares hit record high as it outperforms rival Nike
Adidas shares rose to a record high on Thursday after the sportswear firm reported a bigger than expected increase in first-quarter profit, outpacing rival Nike in North America and China. Adidas sales rose by 31% in the quarter, compared with Nike's 3% rise in North America. Adidas has been benefiting from a shift towards retro styles which has hurt Nike.