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Business

Adidas Hopes on a Better 2004 in the U.S.

The world's second largest sportswear manufacturer, Adidas-Salomon, has said it is waiting for 2004 and new growth in the American market to pull it out of the doldrums there. The company earns 30 percent of its profits in North America, but for months Adidas America has seen nothing but falling profits. On Monday the company transferred the head of its successful Asian division, Jim Stutts, to North America to turn the situation around. "We're confident that sales in the whole of 2004 will beat 2003 levels," Adidas' Robin Stalker told investors on Tuesday. Analysts, however, are sceptical. They say the company's goals in the U.S. are ambitious and that consumption is not yet growing at a strong or steady enough rate to accurately predict increased sales.