Adidas expects record 2012 results
German sportswear and equipment brand adidas expects to achieve record results in 2012, chief executive Herbert Hainer has said.
“Not only are we confident we will continue to perform well in 2012; we will get even stronger,” Mr Hainer said.
The company has already said 2011 would also be a record year as it surpassed the 2008 record earnings mark after the first nine months. It also said it expects 2012 sales to increase at a mid- to high-single-digit rate on a currency-neutral basis and earnings to grow faster than sales, at a rate of between 10% and 15%.
Adidas markets in North America, greater China, and Russia/CIS are “on fire,” Mr Hainer said.
The markets, which adidas calls its “attack markets,” all had double-digit growth in the first nine months of the year.
The brand has also announced that it will acquire Five Ten, a California-based outdoor sports brand, for $25 million in cash at closing and contingent payments, dependent on Five Ten achieving certain performance measures over the next three years.
