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Adidas Eyes Turnaround With New Strategic Business Plan

adidas today said that it "aims to lift profit by 15% a year through 2020 as it battles to assuage investors' concerns after abandoning earlier financial targets." Under a five-year plan dubbed "Creating the New," the company plans to "speed production while increasing its presence in major cities and investing in its core brands." It "expects to outperform the sporting goods industry with group sales growing at a 'high-single-digit rate' for each of the next five years." adidas also seeks to "reduce its production lead times" and "expand its e-commerce business" (WALL STREET JOURNAL, 3/26).

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