The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
FRANKFURT, Germany — Adidas AG Chief Executive Officer Herbert Hainer expects a significant revenue increase next year, boosted by sales of national team shirts and official balls for the soccer World Cup in Brazil.
The world’s second-largest maker of sporting goods is on track to reach a target of 17 billion euros ($23 billion) in annual revenue in 2015, spokeswoman Katja Schreiber said by telephone, confirming Hainer’s comments to German newspaper Handelsblatt. Analysts expect revenue to rise about 7 percent to 15.7 billion euros next year from 14.6 billion euros this year, according to estimates compiled by Bloomberg.
“Nobody expects anything less than a significant revenue increase next year,” said Joerg Philipp Frey, an analyst at M.M. Warburg in Hamburg, by phone. “If they don’t have a significant increase then it’s definitely a bad thing because it would mean they have to review their guidance. It’s not really spectacular.”
Adidas cut its 2013 profit forecast last month because of Russian distribution difficulties, a weak golf market and the strength of the euro. The company has been pushing product categories including running and fitness this year because of the lack of a major soccer event. Hainer said in June that soccer sales will rise to a record 2 billion euros next year.
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Adidas shares gained as much as 2.9 percent to 81.16 euros and traded up 2.4 percent as of 5:16 p.m. in Frankfurt. Germany’s benchmark DAX Index rose 1.9 percent.
By Julie Cruz; Editors: Celeste Perri, Robert Valpuesta
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
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