FRANKFURT: German sportswear group Adidas forecast sales growth of 5-9 percent in 2012, saying emerging markets and big sporting events like the Olympics and European soccer championships would help offset uncertainty around consumer spending.
The world's second largest sporting goods group behind Nike grew sales and earnings to record levels in 2011, it said on Wednesday, driven by demand for its three stripe products in emerging markets in eastern Europe and China.
The group said it expected 2012 sales to increase at a mid-to-high single digit rate in 2012 on a currency neutral basis, compared with a 13 percent rise reported for 2011.
Analysts described the reiterated guidance as cautious from a company that upgraded forecasts four times in 2011 and its shares were indicated down 3.3 percent in pre-market trading.
"2012 guidance is seen as a little low - it is below Puma guidance and below Nike order backlogs," Silvia Quandt analyst Mark Josefson said.
Smaller German rival Puma, controlled by French luxury goods group PPR, said last month it expected a near 10 percent rise in group sales for 2012, while Nike in December said future orders were up 13 percent.
Adidas, which also owns the Reebok brand, confirmed a forecast for earnings per share to rise by between 10 and 15 percent to around 3.52-3.68 euros in 2012, equivalent to net income of 736-770 million euros.
Marketing investments would be centred on the Olympics and the European soccer championship in Poland and Ukraine, it said.
"There is always great buzz and excitement around major sports events and they don't come bigger than the London 2012 Olympic Games and the UEFA Euro 2012," Chief Executive Herbert Hainer said in a statement.
The group reported 2011 sales of 13.3 billion euros ($17.44 billion) and operating profit of 1.01 billion, in line with expectations in a Reuters poll.
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