4 Sep

Adidas sets out ambitious target to overtake Nike

first_imgMonday 8 November 2010 8:36 pm Tags: NULL German sporting goods company Adidas aims to grow sales to €17bn (£14.6bn) by 2015 as it strives to overtake market leader Nike. “Our aspirations are to outperform total market growth… to outgrow our major competitor and have the bottom line grow faster than the top line,” chief executive Herbert Hainer said yesterday in a presentation to analysts at the company’s headquarters in Herzogenaurach, Germany.Last week, Adidas reported strong third-quarter results, lifted by US and eastern European growth, and said it expected 2010 sales to grow by 8 eight per cent at constant currency rates from €10.4bn in 2009. Nike recorded sales of $19bn in its year to May 2010.Adidas, the world number two, said its key growth markets would be North America, Greater China, Russia/CIS, Latin America, Japan, Britain and India.Under the new strategic plan, named “Route 2015”, Adidas is targeting a compound annual earnings growth rate of 15 per cent, faster than sales growth, and an operating margin of 11 per cent by 2015 at the latest.Hainer said its Adidas and Reebok brands would account for more than 90 per cent of the planned 45-50 per cent increase in sales. whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutioncenter_img Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content Show Comments ▼ Adidas sets out ambitious target to overtake Nike last_img read more

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