Festive season has set the industry that has been pulling through hard recessionary times world over, with movements and aspirations of good tidings in terms of financial growth and better performance. Retail giant adidas is to announce its financial results that are to be declared by this month end. Amidst this festive aura, how is company expecting its performance figures in this year ending, and what all are its estimates on economic recovery were some of the interrogations made by fibre2fashion team during an exclusive interview with Ms Katja Schreiber, Corporate PR Manager, adidas.
Narrating expectations on the current fiscal year ending, she said that the Adidas Group sales are expected to decline at a low- to mid-single-digit rate on a currency-neutral basis in 2009. Sales development will be negatively impacted by weaker consumer demand due to low levels of consumer confidence and rising unemployment in many major markets.
She feels it would be too early for an exact outlook for 2010. In her view though the consumers and retailer sentiments are still hovering between fear and optimism, the Group is well prepared to face any challenges thrown in its way and is cautiously optimistic. With a firm grip on inventories, a better financial position and a leaner organisation, the Group is determined to turn into the 2010 event year with innovative products, exciting concepts and clear focus on the tasks at hand, she added confidently.
Offering her view on economy recovery, she elaborated that this year industry and her Group have faced unprecedented challenges. However, she in satisfaction believes that the Company has tackled the challenges head-on.
“We have successfully adapted to our difficult surroundings. And our drive for operational excellence has meant we have strongly improved our financial position generating almost € 740 million in net cash from operations over the last six months,” she ended talk in complimenting tone.
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