Adidas AG forecast 2014 profit as much as 17 percent below analysts’ estimates as the weakness of currencies such as the Russian ruble and Argentine peso weighs on the world’s second-biggest sporting-goods maker.
Adidas AG said Chief Executive Officer Herbert Hainer will remain at the helm through 2017, extending his contract by two years and giving the world’s second-largest sporting-goods maker time to find a new leader.
Adidas AG , the world’s second- largest sporting-goods maker, will increase sales and profit in 2011 as China rebounds and Russia becomes the company’s top European market, Chief Executive Officer Herbert Hainer said.
Adidas AG, the world’s second-biggest sporting-goods maker, said the build-up to next year’s soccer World Cup in Brazil will boost revenue from the current quarter as it starts selling team jerseys and the official match ball.
Adidas AG, the world’s second- largest sporting-goods maker, expects record soccer sales next year as the European championship finals take place in Ukraine and Poland, Chief Executive Officer Herbert Hainer said.
Adidas AG used to tell athletes that “impossible is nothing.” The company is taking that advice to heart with a vow to come from the back of the field -- sixth place -- and overtake rival Nike Inc. as the U.S. leader in running shoes.
Adidas AG Chief Executive Officer Herbert Hainer said “there is a good chance” for the company to expand its market leadership as a soccer sports brand with the World Cup tournament and that he is “more than satisfied” with sales numbers so far, the Financial Times reported, citing an interview with Hainer.
Adidas AG Chief Executive Officer Herbert Hainer said the German sporting-goods maker will grow significantly this year after a strong 2010, DAF Deutsches Anleger Fernsehen reported, citing an interview.