adidas: €62m net loss in 4^th quarter of 2014, but the group expects 5% growth in 2015

The German adidas group announced a net loss of €62m in the 4^th quarter of 2014, the group announced on 03/05/2015. The net profit of the group was down 37.6% to €490m in 2014. Operating profit decreased 24.9% to €835m for the year.

The group expects growth of 5% and an increase of about 7% to 10% in its net profit for 2015, despite an increase in marketing expenses. The number two sports equipment brand in the world announced a 2014 turnover of €14.53bn on 23/01/2015. The group will present its new strategy for the next five years on 25 and 26/03/2015.

• adidas could announce a strategy for expansion in the American market where it ranks third behind Nike and Under Armour.

Herbert Hainer will step down as CEO in 2017

• Herbert Hainer, the CEO of adidas, will leave his post at the end of his term in 2017, he announced via a letter to employees on 19/02/2015.
• The German, who has held the position since March 2001, will be 63 years old at that time.

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