Adidas chief executive Herbert Hainer has claimed that the German sportswear giant will grow faster than US rival Nike in 2015.
Hainer told German daily newspaper Boersen-Zeitung that Adidas should target sustainable growth rather than the highest turnover for 2015.
He told the newspaper: “That’s why our Route 2015 plan stipulates that we want to achieve an average annual earnings growth rate of 15%…That’s considerably higher than the planned annual sales growth of 8%.
“As a result of our programmes and opportunities we think we will grow faster than our competitors,” Hainer added.
Nike said this week that it thought worldwide future orders, excluding currency exchange rates, would rise 11% year-on-year for the period from December 2010 to April 2011, which was lower than many analysts’ expectations and sent shares tumbling.
Gross margins at Nike for 2011 are set to be at least 50 basis points below 2010.