Adidas, the world's second-largest maker of sports apparel, expects its revenues and profits to grow further next year despite the eurozone debt crisis, its chief executive said in an interview with a German newspaper.
"We will continue to grow further - at a mid to high single-digit rate in terms of sales (and) by 10 to 15 percent in terms of earnings," according to a Saturday prerelease of Welt am Sonntag's interview with Chief Executive Herbert Hainer. Adidas on November 3 lifted its 2011 sales outlook on strong demand for its sporting goods in emerging markets and as it expands its high margin brand-name stores.
In his interview with Welt am Sonntag, Hainer said his confidence stemmed from growth of all the group's brands worldwide, be it Adidas, Reebok or the golfing brand TaylorMade. He said the group's outlook for 2012 had already factored in the turbulence in Europe.
"I do not believe the euro will disappear and the eurozone will breakup. The politicians will do everything in order to keep the eurozone," he said. "Still it was important to show that Greece's membership in the eurozone is not one cast in stone. That the possibility of a state insolvency had been expressed is something that nevertheless promotes clarity," he said.
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