This content is not available in your region

Adidas lowballs outlook despite big sports year

Adidas lowballs outlook despite big sports year
Text size Aa Aa

A cautious Adidas is sticking to its forecasts for a slowdown in sales growth this year.

That guidance disappointing investors who had been hoping for more given that this is a big year for sports events including the Olympics and the European football championships.

The German sportswear firm anticipates sales growth of between five and nine percent down from last year’s 13 percent.

Analysts described this as a cautious move from a company that upgraded its forecasts four times in 2011.

Smaller German rival Puma 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.

The three have enjoyed strong growth over the last year, as fashion-conscious Chinese and Russian consumers snap up big brands.

In 2012, the big sportswear brands are courting football fans ahead of the UEFA European championships in Poland and Ukraine that starts in June.