Adidas raises full-year outlook The sportwear business has increased its 2021 sales outlook, betting on continued strong demand for its products in Europe. Adidas expects sales to jump around 50% in its second quarter. Read more.

Tapestry returns to profit The Coach and Kate Spade owner has posted a 19% increase in net sales for its third quarter to $1.27bn. The company said gross profit totalled $912m. Read more.

Kontoor Brands reports strong first quarter Kontoor Brands has posted a 27% uptick in sales to $652m. The company said that sales at its Wrangler brand increased 31%, mainly thanks to strong sales in the US. Read more.

Q1 sales at EssilorLuxottica driven by strong demand in China The maker of Oakley and Ray-Ban sunglasses has posted a 14.3% increase in sales to €4.09bn. The company has confirmed its target to return to pre-pandemic levels this year, and has attributed the growth to strong trading in China and the US. Read more.

Moss Bros launches subscription service The menswear retailer has begun its new monthly subscription-based clothing rental service, the first such menswear scheme in the UK. The £65-a-month service allows customers to take two items at a time and swap them for others as many times as they like. Read more.

Pandora eyes expansion into new categories The jewellery business has announced plans to focus its expansion strategy on the US and China, with potential expansion into new areas such as watches and bags. Operating profit reached $146.2m between January and March. Read more.