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Adidas Sees 2014 Sales Up High-Single-Digits, FX Neutral 2013-12-03 12:00:17.283 GMT
By Heather Burke Dec. 3 (Bloomberg) -- Adidas forecasts 2014 sales to rise at high-single-digit FX-neutral basis, oper. margin up ~1ppt vs 2013. * 2014 sees rev. growth in all brands, regions, mkts, led by running, soccer, says in statement * Confirms Route 2015 targets of EU17b sales, 11% oper. margin * Still sees 2013 sales growth at low-single-digit rate on FX- neutral basis, oper. margin ~8.5%, EPS EU3.92-EU4.06, net EU820m-EU850m * Adidas Boost technology to be integrated into all performance running shoes in 2014, introduced in other categories incl. basketball * To introduce Adidas-brand products leading up to FIFA World Cup; brand expects to have record sales, be 1st to break through EU2b sales mark with soccer-related products * Reebok growth to be driven by Russia/CIS, N. America, Latam, sees sales hitting EU2b by 2015, gross margin to >40% * Holds investor field trip today in Herzogenaurach, Germany * CEO Herbert Hainer in speech: After 3 yrs, numbers not where we thought would be; has faced input cost pressures, adverse FX, weaker European mkt * “"Fully equipped,” ready to move forward * To accelerate growth, profitability in 2nd half of Route 2015 * NOTE Nov. 7: Adidas Sees Imminent Soccer Boost as World Cup Build-Up Begins * NOTE Sept. 20: Adidas Drops Most in More Than a Year After Cutting Forecast
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To contact the reporter on this story: Heather Burke in London at +44-20-7673-2044 or hburke2@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net