FRANKFURT Oct 10 Sporting goods maker Adidas
is confident it will achieve its 2015 targets on the
back of a "significant increase" in profits next year, its chief
executive told a German newspaper.
"In 2013, we will have the negative currency effects,
because just about every currency has lost in value against the
euro this year, but I am confident that we will achieve our
Route 2015 targets," Herbert Hainer was quoted as saying by
Handelsblatt in an interview to be published on Friday.
"I expect a significant increase in sales (for next year),"
Route 2015 is the name given to the company's long-term
strategic plan announced in 2010 which targets sales of 17
billion euros ($23 billion) and an operating margin of 11
percent by 2015.
Adidas last month said it would no longer meet its 2013
profit targets due to adverse currency effects, a poor golf
season and distribution problems in Russia.
Despite Adidas saying at the time it expected a pick-up in
the fourth quarter, the profit warning prompted some analysts to
question its 2015 targets.
"It will help us that the World Cup (replica) ball and the
national teams' jerseys for the tournament will start to appear
in the shops," Hainer told Handelsblatt in reference to the
Shares in Adidas extended gains on Thursday after the
comments and were up 2.7 percent, against a 2 percent gain for
the wider index
($1 = 0.7398 euros)
(Reporting by Victoria Bryan; Editing by Elaine Hardcastle)