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PAUL SMITH
Junior Art Director - Japan
Permanent · TOKYO
STEPHANIE JACKSON RECRUITMENT.
Supervisor - Watches / Diamonds
Permanent · LONDON
PAUL SMITH
Franchise Sales Executive - Womenswear
Permanent · LONDON
THE POP GROUP
Account Manager
Permanent · LONDON
LEVI'S
Key Account Manager
Permanent · London
HUGO BOSS
Sales Associate - Manchester Trafford
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DUMEBI
Studio Assistant Intern
Internship · LONDON
SPOT ON MINDS LTD
Studio Intern - Luxury Brand (Part-Time - Remote Work Optional)
Internship · LONDON
THE KOOPLES
Sales Assistant Edinburgh - Part-Time (20h)
Permanent · EDINBURGH
THE KOOPLES
Sales Assistant Edinburgh - Full Time
Permanent · EDINBURGH
THE KOOPLES
Concession Manager Edinburgh
Permanent · EDINBURGH
GUCCI LIMITED
Gucci Client Advisor
Permanent · LONDON
GUCCI LIMITED
Gucci Client Advisor
Permanent · LONDON
YVES SAINT LAURENT UK LIMITED
Sales Associate
Permanent · LONDON
SPOT ON MINDS LTD
Assistant to The Creative Director (Part-Time - Remote Work Optional)
Internship · LONDON
PYOU
E-Commerce Manager - Fashion Luxury Brand
Permanent · LONDON
NEW BALANCE
Store Manager - Bridgend
Permanent · Bridgend
CLAUDIE PIERLOT UK
Sales Assistant - 18h - Temporary - Bicester m/f
Fixed-term · BICESTER
STORM LONDON
Social Media And Marketing Intern
Internship · LONDON
SARVIN
Luxury PR & Fashion Design Internship
Internship · MANCHESTER
STEPHANIE JACKSON RECRUITMENT.
Sales Associate (Bicester Village)
Temp/seasonal · BICESTER
LEVI'S
Stock Room Associate
Permanent · Ellesmere Port
By
Reuters
Published
Mar 8, 2017
Reading time
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New Adidas CEO want to race ahead in e-tail and boost US sales

By
Reuters
Published
Mar 8, 2017

The new boss of Adidas hiked sales and profit targets for the German sportwear firm on Wednesday and announced plans to increase ecommerce sales, simplify business processes and keep investing heavily in the key US market.

Kasper Rorsted, the former chief executive of consumer goods firm Henkel who took over in October, said he was adding goals to an existing 2015-2020 strategic plan, putting more focus on company culture, e-commerce and efficiency.


Adidas wants to sell more of its products online and will focus on digital in the months ahead - adidas



Rorsted was appointed to replace long-serving boss Herbert Hainer with a mandate to improve earnings after activist shareholders bought stakes in the firm in 2015 following a series of profit warnings as the German company failed to keep pace with US rival Nike.

Even before Rorsted took over, Adidas had made significant strides, hiking marketing spending and shaking up its US business, helping its shares rise two-thirds in the last 12 months even though its profitability still lags Nike's.

On Wednesday, Rorsted said he would put a new focus on digitisation, increasing e-commerce sales to €4 billion  ($4.23 billion) by 2020, up from a previous target of €2 billion, and expanding the use of technologies such as 3D printing.

He also announced plans to harmonise and simplify business processes, including reducing the number of articles offered and harmonising marketing activities, a similar strategy to that he pursued at Henkel, which helped boost profitability there.

Adidas now expects currency-neutral revenues to rise between 10% and 12% on average between 2015 and 2020, up from a previous target for a "high-single-digit rate", while net income should grow between 20% and 22%, up from 15%.

For 2017, Adidas forecast currency-neutral sales growth of between 11% and 13% and net income to rise between 18% and 20% to a level up to €1.22 billion, ahead of the €1.13 billion expected by analysts.

Adidas also reported a fourth-quarter net loss of €10 million on sales up 12.5% to €4.69 billion , in line with most analyst forecasts after it took a one-off charge to help restructure struggling fitness brand Reebok.

Adidas said it was still trying to sell its golf brands, even though it has missed an initial target to shed them before the end of last year, and said it is also now seeking a buyer for its ice hockey brand, where sales are falling.
 

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