|Large Medium Small|
Adidas AG, the world's second-largest sporting-goods maker, expects rising sales in China in the second half as retailers restock depleted inventory, Chief Executive Officer Herbert Hainer said in an interview on Bloomberg Television.
"We are selling six months in advance, so I already have the orders for the third and part of the fourth quarter," Hainer said today. "We definitely will see rising numbers in China in the second half."
Adidas rose in Frankfurt trading after Hainer's comments. The stock gained 76 cents, or 1.9 percent, to 40.01 euros, the second biggest advance in Germany's benchmark DAX Index.
Adidas, which outfits 12 of the 32 teams playing the soccer World Cup that begins on June 11 in South Africa, still expects record sales of more than 1.3 billion euros, Hainer said.
"This interview confirms our "buy" recommendation on the shares with a target price of 50 euros," BCG Partners in London said in an e-mailed note.
Adidas, based in Herzogenaurach, Germany, is second to Nike Inc in the sporting-goods industry.