Adidas eyes Olympics, soccer boost in 2012
BERLIN, March 7
BERLIN, March 7 (Reuters) - German sportswear group Adidas said emerging markets and big sporting events like the Olympics and the European soccer championships will help to offset uncertainty around consumer spending in 2012.
Adidas, the world's second largest sporting goods group behind Nike, said it expected 2012 sales to increase at a mid-to-high single digit rate in 2012 on a currency neutral basis, compared with a 13 percent rise reported for 2011.
The group on Wednesday reported 2011 sales of 13.3 billion euros ($17.44 billion) and operating profit of 1.01 billion, in line with expectations in a Reuters poll.
Adidas itself had predicted a near 12 percent rise in sales in November, the fourth time it had increased its sales outlook for 2011.
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