dearJulius.com

Adidas to close stores in online push says CEO

Kasper Rorsted - Reuters

Reuters

Adidas expects to close down stores in the coming years as part of a shift towards selling more goods online, its chief executive told a newspaper.

In an interview with the Financial Times, Kasper Rorsted said "over time, we will have fewer stores but they will be better", adding that over the coming year the number of Adidas stores was expected to contract slightly.

"Our website is the most important store we have in the world."

Adidas, which wants to more than double its e-commerce sales to 4 billion euros ($4.91 billion) by 2020 from 1.6 billion last year, has 2,500 stores globally and 13,000 additional mono-branded franchise stores, the Financial Times said.

Adidas recently introduced a smartphone app to promote personalisation across its online community. So far, It has been launched in the US, the UK and Germany, and is expected to hit France, Spain and Canada this year.

In 2017, Adidas reported a 16 per cent increase in revenue to €21.2bn, while operating profit margins increased 120 basis points to 9.8 per cent.

Looking forward, Adidas aims to lift sales by 10-12 per cent a year by 2020, and  boost operating profit margins from almost 10 per cent to 11.5 per cent. The company is eyeing a net profit rise of 22-24 per cent annually until 2020.

A Part of Julius LLC
Made with in NYC by Julius Choudhury
Name

Adventure Travel,45,AI,14,Amazon,33,Apple,146,Apps,20,Arts & Culture,12,Beauty & Style,501,Bitcoin,1,Body & Mind,6,Bollywood,29,Books,5,Budget Travel,25,Business,654,Career & Education,45,Careers & Education,19,Celebrities,40,Computers,23,Coronavirus,25,Crime,52,Elections,139,Emoji,1,Entertainment,1108,Europe,1,Facebook,105,Fashion,4,Fitness,32,Food and Drinks,151,France,1,Gadgets,26,Games,191,Good News,333,Google,96,Health,1581,Healthy Living,2,Hollywood,1,Home & Garden,46,Huawei,11,Immigration,1,Industry,161,Instagram,16,Interesting,3,Internet,67,Investing,37,Lifestyle,527,LinkedIn,1,Markets,34,Microsoft Windows,3,Money,13,Movies,105,Mozilla,1,Music,121,Nature Travel,27,News,1387,Occasional Travel,7,Offbeat,405,Opinion,104,OS,1,People,188,Personal Finance,19,Politics,176,Real Estate,23,Relationships,13,Samsung,62,Science,568,Seasonal Travel,14,Security,22,Small Business,37,Smartphone,98,Social,38,Sports,20,Technology,716,Tesla,6,Transportation,26,Travel,457,TV,287,Twitter,24,Urban Travel,13,US,293,Vacation Travel,26,VR,6,Weather,1,Weight Loss,5,Weird,244,Wellness,7,World,308,
ltr
item
dearJulius.com News | Breaking News, US News, World News: Adidas to close stores in online push says CEO
Adidas to close stores in online push says CEO
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEggzB65zaGBYXLK-VKF1pkzL3lJrnEcznQZsMjumuanVnAQXN9_nCyA9NCMjSSIdCRdbzMgLhM3vQScvpJuPC2UUBADiwNua7dw4UKJcdf4upC3I1ujoz3_hC8sCpsZ2VH3AT0Ojw6MBt4/s1600/Kasper+Rorsted+-+Reuters.jpg
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEggzB65zaGBYXLK-VKF1pkzL3lJrnEcznQZsMjumuanVnAQXN9_nCyA9NCMjSSIdCRdbzMgLhM3vQScvpJuPC2UUBADiwNua7dw4UKJcdf4upC3I1ujoz3_hC8sCpsZ2VH3AT0Ojw6MBt4/s72-c/Kasper+Rorsted+-+Reuters.jpg
dearJulius.com News | Breaking News, US News, World News
https://news.dearjulius.com/2018/04/adidas-to-close-stores-in-online-push.html
https://news.dearjulius.com/
https://news.dearjulius.com/
https://news.dearjulius.com/2018/04/adidas-to-close-stores-in-online-push.html
true
2851388516137227212
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content