Adidas said it will continue to invest in  growth opportunities

Adidas said it will continue to invest in growth opportunities

German sportswear giant Adidas has hit its updated financial targets for 2014, with all sales channels contributing to the group's positive top-line development.

Group sales were up 6% on a currency-neutral basis, excluding the impact from the just-announced sale of its Rockport business. Underlying net income reached its target of around EUR650m (US$730.2m).

The company saw strong top-line momentum of 11% from the Adidas brand and 5% from Reebok, the brand's seventh consecutive quarter of growth in the fourth quarter.

Adidas CEO, Herbert Hainer, said: “Despite continuing pressure as a result of further currency weakness in Russia/CIS, we achieved our 2014 earnings target. Now we are looking forward to 2015 where we will continue to invest in our growth opportunities and present our long-term vision for the successful future of the Adidas Group.”