Sports good manufacturer adidas has warned that sourcing costs will increase significantly this year as a result of rising raw material costs and capacity constraints.
Nevertheless, in its first quarter results the company is forecasting high single digit sales growth on a currency-neutral basis in 2011.
Chief executive Herbert Hainer said: “The strong start to the year affirms our confidence in reaching all our projections for 2011. Although the unfortunate events in Japan will certainly affect our business in this important market, our global strength will provide ample opportunities to cover the expected shortfalls. As a result, our bottom-line guidance remains unchanged, meaning that 2011 will provide a fitting start to our strategic business plan Route 2015.”
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