Adidas sees strong rebound sales for 2021

10.03.2021 - Korneychuk Evgeniya
Adidas sees strong rebound sales for 2021

Germany’s sportswear brand Adidas forecast a strong rebound in 2021 sales, with its Asian and Latin American stores doing the heavy lifting as it braces for costs associated with divesting the Reebok brand.

Adidas is set to present its five-year strategy on Wednesday, which includes the sales outlook for 2021.

The company’s sales for the final quarter of 2020 improved a currency-neutral 1% to 5.55 billion euros ($6.59 billion), while its operating profit slightly declined to 225 million euros, ahead of the 5.47 billion and 202 million euros predicted by analysts.

Despite having half of its stores closed in Europe for October-December, Adidas online sales spike 43%.

Since 95% of its stores have reopened, Adidas projects sales growth at a mid-to high-teens rate on a currency-neutral basis in 2021, going up by up to 30% in greater China, the rest of Asia, and Latin America. Part of its new strategy is making China a separate market from the rest of Asia.

Adidas reported it also anticipates around 250 million euros less to the operating profit level and 200 million to net income due to expenditures to make Reebok a stand-alone company, with a third of that in 2022.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?