Europe suffered due to store closures, with net sales down 6.2%, while North America and Asia Pacific increased by 2.2% and 1.4%. E-commerce kept Adidas’ performance stable, up 53% with a €4 billion revenue. In the fourth quarter, revenues increased by 1% to €5.5 billion.

Adidas CEO Kasper Rorsted said: “We are confident about 2021 and will be fast out of the gate in the first year of our new strategic cycle, delivering mid- to high-teens sales growth globally”.

With regard to the outlook for 2021, Adidas stated that the company’s global store opening rate currently stands at over 95%, and it expects a strong top-line recovery in 2021. Revenue is anticipated to increase in all market segments with Greater China, Asia-Pacific and Latin America projected to grow net sales in a range of between 20% and 30%.