World Cup fever helps Adidas post record sales

Adidas - Strong Performance in 2010

Adidas – Strong Performance in 2010

The world’s second largest sporting accessories company – Adidas said it had posted record sales last year and the company is in ‘fantastic shape.

Net profit for the year more than doubled to €567 million while total sales rose by 9% to €12 billion (£10.2 billion, $16.4 billion).

The company said the World Cup and the global improvement in economic conditions helped it post better results.

The company offered fewer discounts in 2010 and managed to maintain prices and profit margins, it disclosed.

The Adidas brand grew by 10% while its other leading brand Reebok’s sales grew by 15% across all regions.

“Not only did we meet, but we beat all our initial expectations for the year”, said Herbert Hainer – group chief executive, about the group’s performance.

“We outgrew our major competitors, achieving record sales of €12billion. Therefore, I am proud to report that our group is in fantastic shape”, he added.

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