adidas chief says 2015 will be a year of growth
05/03/2015
Sales of products under the adidas brand grew by 11%, while Reebok sales were up by 5%. These successes were partly offset by declines at Taylor-Made-adidas Golf and at Rockport. The former suffered a decline in sales of 28%, while the latter led to the group incurring losses from discontinued operations of €68 million, net of tax; adidas is planning the divestiture of Rockport in the course of 2015.
A steep decline in the value of the local currency in the important Russian market also affected adidas’s 2014 results.
Commenting on the results, chief executive, Herbert Hainer, said: “The adidas group is, and will remain, a growth company. In 2015, we will see sales increases across all our brands, despite tough comparison with the 2014 World Cup year as well as the geopolitical crisis in Ukraine which negatively impacts our business in Russia. We are laying solid foundations for a new strategic business plan which we will present at the end of March.”
Share this story:
