BERLIN, Germany — Adidas expects sales growth to "normalise" this year after two years of strong expansion, the chief executive of German sportswear firm told shareholders on Wednesday.
"We do expect a certain normalisation this year, following the second consecutive year of strong double-digit growth rates," Kasper Rorsted said according to a speech text he was giving at the annual general meeting.
He reiterated a target for sales to grow around 10 percent in 2018 on a currency neutral basis, down from 16 percent in 2017.
Shares in Adidas were hit last week after it predicted that sales in western Europe will stall in the second quarter.
By Emma Thomasson; Editing by Arno Schuetze.