Adidas to open 600 more stores
<p><span word="Download">Download</span></p><p><span word="Adidas">Adidas</span> <span word="Group">Group</span> <span word="China">China</span>, <span word="a">a</span> <span word="unit">unit</span> <span word="of">of</span> <span word="German">German</span> <span word="sports">sports</span> <span word="clothing">clothing</span> <span word="manufacturer">manufacturer</span> <span word="Adidas">Adidas</span> <span word="AG">AG</span>, <span word="is">is</span> <span word="continuing">continuing</span> <span word="its">its</span> <span word="aggressive">aggressive</span> <span word="push">push</span> <span word="into">into</span> <span word="Chinese">Chinese</span> <span word="lower">lower</span>-<span word="tier">tier</span> <span word="cities">cities</span> <span word="with">with</span> 600 <span word="new">new</span> <span word="stores">stores</span>.</p><p>"<span word="We">We</span> <span word="plan">plan</span> <span word="to">to</span> <span word="open">open</span> 500 <span word="to">to</span> 600 <span word="stores">stores</span> <span word="in">in</span> <span word="lower">lower</span>-<span word="tier">tier</span> <span word="cities">cities</span> <span word="by">by</span> <span word="the">the</span> <span word="end">end</span> <span word="of">of</span> <span word="the">the</span> <span word="year">year</span>," <span word="said">said</span> <span word="Colin">Colin</span> <span word="Currie">Currie</span>, <span word="managing">managing</span> <span word="director">director</span> <span word="of">of</span> <span word="Adidas">Adidas</span> <span word="Group">Group</span> <span word="China">China</span>.</p><p><span word="In">In</span> <span word="an">an</span> <span word="interview">interview</span> <span word="with">with</span> <span word="China">China</span> <span word="Daily">Daily</span>, <span word="Currie">Currie</span> <span word="said">said</span> <span word="the">the</span> <span word="company">company</span> <span word="plans">plans</span> <span word="to">to</span> <span word="open">open</span> <span word="new">new</span> <span word="stores">stores</span> <span word="in">in</span> <span word="at">at</span> <span word="least">least</span> 300 <span word="to">to</span> 350 <span word="cities">cities</span> <span word="where">where</span> <span word="it">it</span> <span word="does">does</span> <span word="not">not</span> <span word="have">have</span> <span word="outlets">outlets</span> <span word="now">now</span> <span word="but">but</span> <span word="where">where</span> <span word="local">local</span> <span word="competitors">competitors</span> <span word="are">are</span> <span word="present">present</span>.</p><p><span word="He">He</span> <span word="said">said</span> <span word="the">the</span> <span word="store">store</span> <span word="openings">openings</span> <span word="this">this</span> <span word="year">year</span> <span word="will">will</span> <span word="focus">focus</span> <span word="on">on</span> <span word="the">the</span> <span word="western">western</span> <span word="and">and</span> <span word="northwestern">northwestern</span> <span word="parts">parts</span> <span word="of">of</span> <span word="China">China</span>.</p><p><span word="The">The</span> <span word="move">move</span> <span word="follows">follows</span> <span word="the">the</span> <span word="company">company</span>'<span word="s">s</span> <span word="first">first</span>-<span word="quarter">quarter</span> <span word="results">results</span>, <span word="which">which</span> <span word="showed">showed</span> <span word="revenues">revenues</span> <span word="up">up</span> 14 <span word="percent">percent</span> <span word="at">at</span> 3.8 <span word="billion">billion</span> <span word="euros">euros</span> ($4.67 <span word="billion">billion</span>) <span word="and">and</span> <span word="net">net</span> <span word="profit">profit</span> <span word="up">up</span> 38 <span word="percent">percent</span> <span word="at">at</span> 289 <span word="million">million</span> <span word="euros">euros</span>. <span word="The">The</span> <span word="figures">figures</span> <span word="were">were</span> <span word="boosted">boosted</span> <span word="partly">partly</span> <span word="by">by</span> <span word="strong">strong</span> <span word="sales">sales</span> <span word="in">in</span> <span word="China">China</span>, <span word="with">with</span> <span word="a">a</span> 26-<span word="percent">percent</span> <span word="increase">increase</span>, <span word="compared">compared</span> <span word="with">with</span> <span word="a">a</span> 7-<span word="percent">percent</span> <span word="drop">drop</span> <span word="in">in</span> <span word="western">western</span> <span word="Europe">Europe</span>.</p><p><span word="Currie">Currie</span> <span word="attributed">attributed</span> <span word="the">the</span> <span word="rise">rise</span> <span word="to">to</span> <span word="the">the</span> <span word="company">company</span>'<span word="s">s</span> <span word="Route">Route</span> 2017 <span word="strategy">strategy</span>, <span word="which">which</span> <span word="calls">calls</span> <span word="for">for</span> <span word="five">five</span> <span word="years">years</span> <span word="of">of</span> <span word="double">double</span>-<span word="digit">digit</span> <span word="annual">annual</span> <span word="sales">sales</span> <span word="growth">growth</span> <span word="in">in</span> <span word="China">China</span>.</p><p>"<span word="Adidas">Adidas</span>' <span word="success">success</span> <span word="may">may</span> <span word="come">come</span> <span word="from">from</span> <span word="the">the</span> <span word="decreasing">decreasing</span> <span word="market">market</span> <span word="share">share</span> <span word="of">of</span> <span word="Li">Li</span> <span word="Ning">Ning</span>, <span word="its">its</span> <span word="major">major</span> <span word="Chinese">Chinese</span> <span word="rival">rival</span>," <span word="said">said</span> <span word="Guo">Guo</span> <span word="Hongchi">Hongchi</span>, <span word="chief">chief</span> <span word="executive">executive</span> <span word="of">of</span> <span word="xijie">xijie</span>.<span word="com">com</span>, <span word="a">a</span> <span word="leading">leading</span> <span word="e">e</span>-<span word="commerce">commerce</span> <span word="portal">portal</span> <span word="for">for</span> <span word="sporting">sporting</span> <span word="goods">goods</span>. "<span word="Adidas">Adidas</span>' <span word="long">long</span>-<span word="term">term</span> <span word="strategy">strategy</span> <span word="and">and</span> <span word="good">good</span> <span word="partnership">partnership</span> <span word="with">with</span> <span word="distributors">distributors</span> <span word="are">are</span> <span word="its">its</span> <span word="strength">strength</span>."</p><p><span word="Adidas">Adidas</span> <span word="forecasts">forecasts</span> 12 <span word="to">to</span> 17 <span word="percent">percent</span> <span word="growth">growth</span> <span word="in">in</span> <span word="global">global</span> <span word="full">full</span>-<span word="year">year</span> <span word="profits">profits</span>, <span word="compared">compared</span> <span word="with">with</span> <span word="a">a</span> <span word="previous">previous</span> <span word="forecast">forecast</span> <span word="of">of</span> 10 <span word="to">to</span> 15 <span word="percent">percent</span>. <span word="It">It</span> <span word="also">also</span> <span word="expects">expects</span> 2017 <span word="global">global</span> <span word="sales">sales</span> <span word="to">to</span> <span word="increase">increase</span> <span word="nearly">nearly</span> 10 <span word="percent">percent</span>, <span word="instead">instead</span> <span word="of">of</span> <span word="the">the</span> <span word="previously">previously</span> <span word="forecast">forecast</span> <span word="of">of</span> 5 <span word="to">to</span> 9 <span word="percent">percent</span>.</p>
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