Breaking News
0

Adidas targets U.S. market share of 15-20 percent: paper

Stock MarketsJan 13, 2018 08:40AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Adidas logo is pictured on shoe before company annual general meeting in Fuerth

FRANKFURT (Reuters) - German sportswear maker Adidas (DE:ADSGn) wants to increase its U.S. market share to around 15-20 percent from levels that are now "significantly lower", its chief financial officer said.

"In every market we have a share of at least 15 to 20 percent," CFO Hans Ohlmeyer told the Boersen Zeitung in an interview published on Saturday.

"Our medium-term goal in the United States is also to reach that level. Currently we are significantly lower," he added. Market researchers estimate Adidas' share of the U.S. market at about 10 percent, implying a goal to at least double it.

Adidas has been taking market share in North America and China from its main competitor Nike (N:NKE), and hopes the launch of new team kits before this year's soccer World Cup will revive its relatively weak sales in Europe.

Growth in the U.S. market has, however, "been too fast for our infrastructure", Ohlmeyer said, adding that Adidas would build out its logistics capacity there this year to clear supply bottlenecks.

Adidas expects to keep its Reebok brand, which has undergone a restructuring and is expected to return to growth in the United States this year, he said, although it is not yet making money.

"The brand is far from the level that we are striving for," said Ohlmeyer, who started the job last May.

Adidas will also this year open a new warehouse facility in the German state of Lower Saxony to help scale up its e-commerce business, he said. Online sales rose by around half last year to 1.5 billion euros ($1.83 billion).

($1 = 0.8201 euros)

Adidas targets U.S. market share of 15-20 percent: paper
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email