<p>German sportswear maker Adidas AG expects a strong China-led recovery in sales this year, though profit will be trimmed by costs associated with divesting its Reebok brand.</p>.<p>Preparing to presenting its 2021 outlook on Wednesday as part of its five-year strategy, Adidas said it has reopened 95% of its stores after coronavirus lockdowns and expects 2021 sales growth rate in the mid-to-high teens, rising to as much as 30% in greater China, the rest of Asia and Latin America.</p>.<p>Adidas shares rose 3.5% by 0853 GMT, making them the strongest gainer on the German blue-chip index.</p>.<p>"The 2021 outlook appears broadly consistent with consensus estimates once Reebok stranded costs are added back," said Jefferies analyst James Grzinic.</p>.<p>Rival Puma last month said it expects the financial impact from lockdowns to last well into the second quarter but that pandemic-driven growth in running should help to support a strong improvement after that.</p>.<p>Adidas reported fourth-quarter sales up by a currency-neutral 1% at 5.55 billion euros ($6.59 billion) while operating profit slipped slightly to 225 million euros, ahead of the 5.47 billion and 202 million euros expected by analysts.</p>.<p>About half of its stores were closed in Europe in the period, but online sales grew 43%.</p>.<p>As part of its new strategy, Adidas will manage greater China as a separate market from the rest of Asia and it has integrated Europe, Russia and emerging markets into a new Europe, Middle East and Africa (EMEA) region.</p>.<p>For EMEA, Adidas expects sales growth in the mid-to-high teens, but only a high single-digit percentage in North America.</p>.<p>Net income from continuing operations is projected to rise to between 1.25 billion and 1.45 billion euros.</p>.<p>However, Adidas expects a hit of about 250 million euros to operating profit from costs to make Reebok a standalone company, with a third of that in 2022 but none in 2023.</p>.<p>Adidas last month said that it plans to sell or spin-off the underperforming brand, 15 years after it bought the US fitness label to help it compete with arch-rival Nike Inc.</p>
<p>German sportswear maker Adidas AG expects a strong China-led recovery in sales this year, though profit will be trimmed by costs associated with divesting its Reebok brand.</p>.<p>Preparing to presenting its 2021 outlook on Wednesday as part of its five-year strategy, Adidas said it has reopened 95% of its stores after coronavirus lockdowns and expects 2021 sales growth rate in the mid-to-high teens, rising to as much as 30% in greater China, the rest of Asia and Latin America.</p>.<p>Adidas shares rose 3.5% by 0853 GMT, making them the strongest gainer on the German blue-chip index.</p>.<p>"The 2021 outlook appears broadly consistent with consensus estimates once Reebok stranded costs are added back," said Jefferies analyst James Grzinic.</p>.<p>Rival Puma last month said it expects the financial impact from lockdowns to last well into the second quarter but that pandemic-driven growth in running should help to support a strong improvement after that.</p>.<p>Adidas reported fourth-quarter sales up by a currency-neutral 1% at 5.55 billion euros ($6.59 billion) while operating profit slipped slightly to 225 million euros, ahead of the 5.47 billion and 202 million euros expected by analysts.</p>.<p>About half of its stores were closed in Europe in the period, but online sales grew 43%.</p>.<p>As part of its new strategy, Adidas will manage greater China as a separate market from the rest of Asia and it has integrated Europe, Russia and emerging markets into a new Europe, Middle East and Africa (EMEA) region.</p>.<p>For EMEA, Adidas expects sales growth in the mid-to-high teens, but only a high single-digit percentage in North America.</p>.<p>Net income from continuing operations is projected to rise to between 1.25 billion and 1.45 billion euros.</p>.<p>However, Adidas expects a hit of about 250 million euros to operating profit from costs to make Reebok a standalone company, with a third of that in 2022 but none in 2023.</p>.<p>Adidas last month said that it plans to sell or spin-off the underperforming brand, 15 years after it bought the US fitness label to help it compete with arch-rival Nike Inc.</p>