Adidas ‘in great shape’ as revenues race ahead

Strong sales growth was recorded in western Europe, China and Latin America after the company pumped extra funds into marketing in the final quarter

The sportswear giant Adidas is in “great shape”, its chief executive Herbert Hainer said yesterday as he forecast double-digit growth for 2016. 

The increased guidance for revenue and operating profit follows a strong 2015 after it hiked its spending on marketing. 

It agreed a £750m deal to oust rival Nike as kit provider for Manchester United and has made a big push in North American sports, signing top National Football League players as well as celebrities such as Kanye West and Rita Ora.

Strong sales growth was recorded in western Europe, China and Latin America after the company pumped extra funds into marketing in the final quarter. That helped the German-based Adidas, which employs 55,000 people across 160 countries, to increase full-year revenues by 16 per cent to nearly €17bn (£13bn). 

However, it does expect an increase in costs this year. 

Mr Hainer commented: “We are in great shape… a clear focus on driving brand desirability has already started to pay off.”

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