Olympics and Euro 2012 boost adidas sales
Buoyed by exposure during the London 2012 Olympics and Euro 2012
football tournament, adidas has revised its full-year forecast upwards and now anticipates
record sales and earnings.
It predicts sales to increase at a rate approaching 10% by year-end, also boosted by its presence in fast-growing emerging markets.
Adidas chief executive Herbert Hainer said: “We are capitalising on our involvement in the Olympic Games. I have no doubt that this excellent event will inspire a generation to get into sport and provide further impetus to the global mega-trend towards sport and healthier living.”
First-half sales were up 11% year-on-year for the group, growing 7% year-on-year in the second quarter.
Currency-neutral revenues in the second quarter increased 5% in Western Europe, 10% in North America and 13% in Greater China. However, Latin America saw a decrease of 2% as growth at adidas was more than offset by a decrease at Reebok.
Overall, Reebok sales declined 26% during the second quarter, largely as a result of negative impacts from Reebok India Company and the non-recurrence of prior-year licence sales.
