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Adidas Ups Profit Outlook as Sales Exceed Targets

Adidas Group topped its earnings targets for 2015 and the athletic wear retailer said its sales and operating profit will rise faster this year than previously expected.

In 2015, sales were up 10 percent (currency-neutral) to 16.9 billion euros ($19.1 billion) driven largely by double-digit sales growth in Western Europe, Greater China and Latin America. Net income grew 12 percent to 720 million euros ($818 million).

Of the group’s brands—which include its namesake plus Reebok, TaylorMade and CCM—Adidas sales saw the biggest growth at 12 percent for the full year, and Reebok recorded its 11th consecutive year of fourth-quarter growth, ending the year with sales up 6 percent.

Read more at Sourcing Journal.