In an interview last week with the German magazine, Handelsblatt, Herbert Hainer, Adidas’ CEO, expressed confidence that Adidas would achieve its Route 2015 goals with the help of a “significant increase” in profits in 2014.
“In 2013, we will have the negative currency effects, because just about every currency has lost in value against the euro this year, but I am confident that we will achieve our Route 2015 targets,” Hainer was quoted in the article. “I expect a significant increase in sales (for next year).”
Route 2015 is the name given to the company's long-term plan announced in 2010, which targets sales of 17 billion euros ($23 billion) and an operating margin of 11 percent by 2015.
Adidas last month said it would no longer meet its 2013 profit targets due to currency fluctuations, a weak golf season and distribution problems in Russia.
In the interview with Hadelsblatt, Hainer said problems with a new Russian distribution center continue to plague the company's $1 billion operation there. However, he reiterated that Adidas still expects a pick-up in the fourth quarter of this year when the benefits of its exposure to the World Cup starts to kick in.
Hainer said, “It will help us that the World Cup (replica) ball and the national teams' jerseys for the tournament will start to appear in the shops.”
