Adidas hopes big summer events will 'boost' sales

The company is planning a "comeback" after losing its place as US shopper's second favourite sports brand

Adidas hopes big summer events will 'boost' sales

Daniel Leal-Olivas / PA / Shopper outside Foot Locker in Oxford Street, London, with his new pair of limited addition Adidas Yeezy Boost 350 trainers

Adidas' outgoing chief executive Herbert Hainer presented the company's fourth quarter results today and offered investors an upbeat forecast as the firm's losses narrow.

Rio's summer Olympic games and the UEFA European Championship in France will both take place before he leaves the firm, Adidas is a flagship sponsor of both events. 

A 15% sales bump narrowed the company's net losses in 2015 to €44m with net sales of almost €4.2bn.

The company still faces a number of challenges, in the US it has lost its position as the country's second favourite brand, it has been passed by Under Armour.

Although Adidas has seen its sales increase, globally they are still growing at a slower pace than those of Nike.

"Our order books are full across all major performance and lifestyle categories. And our brands are set to shine at this year’s major sporting events," Mr Hainer said.

"We realigned and reorganized our business, rolled up our sleeves and set to work. The result is a textbook example of a perfect comeback in sport," he added when addressing the media.

Adidas has cut costs by downsizing its operations in Russia and putting its golf division up for sale - while increasing its marketing spend.

In Europe, its traditional stronghold, sales have increased by 31%, while North American sales were up by 12%.

Adidas has created a number of partnerships with prominent cultural figures, including musicians Kanye West and Rita Ora to push itself as a streetwear brand.

The company acquired Reebok in 2005, its sales have grown at a slower pace, increasing by 5%.