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It might bring management top-line growth air max classic bw sky blue and exposure in emerging markets, but means that the expected margin improvement will be delayed,” said Stefan-Guenter Bauknecht, fund manager at Deutsche Asset & Wealth Management, which holds a 1.4 percent stake in Adidas.”The strategy has changed from profitable growth towards building up the top line and the brand image against Nike.”Adidas acknowledges it has cut its 2014 target for its operating margin – operating income as a proportion of sales – to between 6.5 and 7.0 percent for 2014, from 8.5 to 9.0 percent, Nike Air Max on sale partly due to higher marketing spend.

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