The german sports retailer reported a 1% sales growth on a currency-neutral basis in Q4 to € 5.55bn (£3.9bn).
The company, which sells its goods globally, said that all markets except Europe posted sales increases in the fourth quarter – with revenues in Europe declining 6% in Q4.
Looking ahead into 2021, Adidas said that it expects sales to increase at a “mid to high-teens rate on a currency-neutral basis”. Currently, the company’s global store opening rate is above 95%.
The company also expects its gross margin to almost fully recover and reach a level of 52% in 2021. Net income from continuing operations is projected to increase to a level of between € 1.25bn (£1.07bn) and € 1.45bn (£1.24bn).
However, Adidas warned that it expects to witness a €250m (£214m) hit to operating profit as a result of its decision to divest Reebok.
Last month, the group announced plans to begin a formal sales process for the brand, as it looked to concentrate further on strengthening the leading position of its core brand.