Adidas Raises Sales Guidance For 2016

Adidas Aurora Borealis D Lillard 2
Adidas D Lillard 2 Aurora Borealis Triple White.
Courtesy of brand.

Adidas has raised its revenue guidance for 2016.

The German sporting goods firm said it expects currency-neutral sales to grow at a double-digit rate this year, following better-than-expected sales and profit development in 2015.

For the full year, net income from continuing operations advanced 12 percent to 720 million euros, or $799 million, the company said in a pre-release on Thursday, while currency-neutral group sales rose 10 percent to 16.9 billion euros, or $18.4 billion, driven by double-digit sales growth in Western Europe, Greater China and Latin America as well as the Middle East, Africa and Asia region.

Dollar figures are converted from the euro at average exchange rates for the periods to which they refer.

Adidas brand sales grew 12 percent in currency-neutral terms in the period, while Reebok ended the year with a 6 percent sales increase on the heels of its 11th consecutive quarter of growth in Q4.

“We are in great shape,” stated Adidas CEO Herbert Hainer“Accelerated momentum in North America and Western Europe during the fourth quarter as well as continued double-digit growth in most emerging markets including Greater China is strong evidence of the desirability of our brands.”

Adidas is slated to announce full results on March 3.