By Ellen Emmerentze Jervell

FRANKFURT--Adidas AG (ADS.XE) Thursday raised its guidance for the fourth time this year, due to gains from the early termination of a partnership with soccer club Chelsea and strong quarterly sales.

The German sportswear firm said it now expected currency-adjusted sales to grow at a percentage rate in "the high teens," up from the figure of around 15% it had earlier projected. It forecast net profit to increase at a rate between 35% and 39%, reaching a number between 975 million euros ($1.07 billion) and EUR1 billion for the full year. The company's previous estimate was an increase of around 25%.

The company also released preliminary second-quarter results. In the three months ended June, net profit from continuing operations rose 99% to EUR291 million. Revenue increased 21% when adjusted for currency effects, to EUR4.4 billion, it said.

Write to Ellen Emmerentze Jervell at ellen.jervell@wsj.com

(END) Dow Jones Newswires

July 28, 2016 03:16 ET (07:16 GMT)