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Adidas beats sales, ups 2015 outlook

By Don-Alvin Adegeest

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Business

Adidas this week revealed its sales and earnings targets for 2015 were exceeded and the group upped its guidance for 2016, with revenues and operating profit expected to grow at double-digit rates.

For the year, underlying net income grew 12 percent to 720 million euros as currency neutral group sales lifted 10 percent on strong top-line momentum from both its core signature brand, up 12 percent, and Reebok, up 6 percent, recording its 11th consecutive quarter of growth in Q4.

In euro terms, sales were up 16 percent to 16.9 billion euros driven by double-digit sales growth in Western Europe, Greater China, Latin America and the MEAA region.

In Q4, adidas group increased its marketing investments “to spur revenue growth in 2016 and drive long-term brand desire”.

The business is in great shape, states CEO

Adidas CEO Herbert Hainer said: "We are in great shape. Our strategic business plan 'Creating the New' with a clear focus on driving brand desirability has already started to pay off.

“Accelerated momentum in North America and Western Europe during the fourth quarter as well as continued double-digit growth in most emerging markets including Greater China is strong evidence of the desirability of our brands.

In combination with the positive feedback from customers on our 2016 product line-up, this gives us every confidence that we will again grow the top and bottom line at a double-digit rate."

Final full year results will be released on March 3.

Image: Adidas SS16 Tubular

Adidas