Adidas raises 2011 profit and sales forecasts
05 August 2011 10:24
Adidas has raised its sales and profit forecast for 2011 on revenue growth in emerging markets and improving profitability of its Reebok brand.
The world's second-largest sporting goods maker now expects earnings per share to rise at a rate "approaching 15%", up from a previous forecast of 10 to 15%.
The group has expanded its operations in China, Russia and North America, where it plans to generate around half of its targeted 50% sales increase by 2015.
Second quarter net income rose by 11% to Eu140 million, above analysts' estimates of Eu137.3 million.
"After outlining our strategic vision for the company through to 2015 late last year, we have wasted no time and come out of the starting blocks in typical adidas Group fashion – fast and focused," commented Herbert Hainer, adidas Group CEO. "No matter which way we break down our results - by segment, by region or by brand – all facets of our business are excelling."
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