German sportswear brand Adidas announced on 2 March, 2011, that it has raised its 2011 sales forecast due to rising consumer confidence, but warned that a further increase in raw-material prices could pressure margins for 2012 and beyond.
Adidas now expects 2011 sales to rise by a mid to high-single-digit percentage range, after previously guiding for a mid-single-digit rise.
The firm s slightly more optimistic forecast comes two weeks after peer Puma, which is also based in Germany, said it expects sales and earnings to increase in 2011 due to improved economic conditions.
The positive sales development will be driven by rising consumer confidence and the group s high exposure to fast-growing emerging markets, Adidas said in a statement.
Adidas said its net profit in the quarter ending 30 December 2010 decreased by almost two-thirds to Euro 7 million compared with Euro 19 million a year earlier due to increased marketing and sales costs. CITATION http://www.chinaleather.org/eng/show.php?itemid=5961
Adidas now expects 2011 sales to rise by a mid to high-single-digit percentage range, after previously guiding for a mid-single-digit rise.
The firm s slightly more optimistic forecast comes two weeks after peer Puma, which is also based in Germany, said it expects sales and earnings to increase in 2011 due to improved economic conditions.
The positive sales development will be driven by rising consumer confidence and the group s high exposure to fast-growing emerging markets, Adidas said in a statement.
Adidas said its net profit in the quarter ending 30 December 2010 decreased by almost two-thirds to Euro 7 million compared with Euro 19 million a year earlier due to increased marketing and sales costs. CITATION http://www.chinaleather.org/eng/show.php?itemid=5961
