Adidas increases its 2017 sales and profit targets, sending shares in the German sportswear firm to a record high. Sara Hemrajani reports.
Adidas is turning up the heat in the sportswear race. The German company has increased its revenue and profit targets for 2017, betting on North America and e-commerce to boost demand. Investors like what they're hearing -- shares in Adidas soaring eight percent to a record high. New boss Kasper Rorsted says he's investing heavily in the U.S., with more staff, marketing and in-store fittings. While competitors Nike and Under Armour remain the clear market leaders, that gap is starting to shrink. Another focus area for the European brand -- steering customers to online shopping. Rorsted says Adidas has "exceeded" its original plan. He's confident his company can deliver an average income rise of 15 percent per year till 2020.