×
73 393
Fashion Jobs
DECKERS
Loss Prevention Lead (1st Shift)
Permanent · MORENO VALLEY
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Santa Anita
Permanent · Arcadia
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Del Amo Fashion
Permanent · Torrance
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Fashion Fair
Permanent · Fresno
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch + Ypb - Manager in Training, Newbury Street
Permanent · Boston
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch + Ypb - Manager in Training, Newbury Street
Permanent · Boston
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Nashville
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch + Ypb - Manager in Training, Newbury Street
Permanent · Boston
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Glendale Galleria
Permanent · Glendale
ALICE AND OLIVIA
Integrated Marketing Manager
Permanent · New York
MACY'S
Manager, Omni Operations
Permanent · Newark
MACY'S
Manager, Merchandise Execution
Permanent · Deptford
MACY'S
Manager, Omni Operations
Permanent · Pittsburgh
MACY'S
Manager, Asset Protection
Permanent · San Jose
MACY'S
Asset Protection Detective, Lakeside - Full Time
Permanent · Sterling Heights
MACY'S
Manager, Operations - Packing - 3x12
Permanent · Owasso
MACY'S
Asset Protection Security Guard, Valley Fair - Part Time
Permanent · Santa Clara
MACY'S
Manager, Operations - Home Fri-Sun 6:00am - 6:30pm
Permanent · Owasso
MACY'S
Manager, Merchandise Execution
Permanent · Yonkers
AESOP
Regional Training & Performance Manager | New York
Permanent · New York
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · ELLENTON
UNDER ARMOUR
Warehouse Administrator, Transportation
Permanent · MT. JULIET
By
Reuters
Published
Mar 8, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

New Adidas CEO wants 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.
 

© Thomson Reuters 2023 All rights reserved.