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Adidas Sees Higher Profit After 2015 Earnings Beat Estimates

Adidas AG raised its outlook for 2016 amid growth at its Reebok brand and a stronger order book.

Bloomberg

11 February 2016

HERZOGENAURACH, Germany — German sportswear maker Adidas AG raised its outlook for 2016 amid growth at its Reebok brand and a stronger order book.

Operating profit and revenue will rise at a double-digit growth rate and the margin should at least be stable, the Herzogenaurach, Germany-based company said in a statement Thursday. Net income from continuing operations rose 12 percent to 720 million euros ($813 million) in 2015, the company also said. Analysts surveyed by Bloomberg expected 711 million euros on average.

Adidas has picked Kasper Rorsted as chief executive officer to succeed Herbert Hainer, charging the head of Dial soap maker Henkel AG & Co. with catching up with rival Nike Inc. Rorsted will join the Adidas board on Aug. 1 and take over as CEO two months later.

By Thomas Mulier; editors: Matthew Boyle, Thomas Mulier, Benedikt Kammel.

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Herzogenaurach, Germany

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