February 28, 2018 / 10:01 AM / 4 months ago

Adidas CEO says sales grew 15-20 percent in 2017

DUESSELDORF, Germany (Reuters) - Sales at German sportswear firm Adidas (ADSGn.DE) rose between 15 and 20 percent to more than 20 billion euros ($24 billion) in 2017, helped by growth in China, North America and ecommerce, Chief Executive Kasper Rorsted said on Wednesday.

FILE PHOTO: Kasper Rorsted, CEO of Adidas, the world's second largest sports apparel firm attends the company's annual general meeting in Fuerth, Germany May 11, 2017. REUTERS/Michaela Rehle

An Adidas spokeswoman said there was no change to the company’s forecast for sales to rise at a currency-adjusted 17-19 percent in 2017. It reports annual results on March 14.

Adidas shares were up 1.6 percent at 1015 GMT, the biggest increase on the German blue-chip index .GDAXI.

Analysts are forecasting a headline sales increase of 11 percent to 21.3 billion euros for 2017, according to Thomson Reuters Eikon.

Speaking at a conference on Asia in Duesseldorf, Rorsted said Adidas saw huge potential in China, which is its most profitable market.

Asked if he could imagine a Chinese investor becoming an anchor investor in the company, Rorsted replied that he could imagine everything.

Reporting by Matthias Inverardi; Writing by Emma Thomasson; Editing by Arno Schuetze and Mark Potter

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below