Adidas expects strong rebound, takes Reebok hit

BERLIN: German sportswear maker Adidas AG predicted a strong rebound in sales in 2021, particularly in China, the rest of Asia and Latin America, although its operating profit will be trimmed by costs associated with divesting the Reebok brand.

Fourth-quarter sales rose a currency-neutral 1% to 5.548 billion euros, while operating profit slipped slightly to 225 million euros, both ahead of average analyst forecasts for 5.47 billion and 202 million respectively.