Home / Knowledge / News / Apparel/Garments / FIFA World Cup 2010 drives first half year, adidas
FIFA World Cup 2010 drives first half year, adidas
07
Aug '10
adidas Group, a global leader in the sporting goods industry announced first half year result for 2010.

“We had an outstanding first half year driven by the FIFA World Cup 2010 and the resurgence of the Reebok brand in North America,” commented Herbert Hainer, adidas Group CEO. “Sales momentum at both adidas and Reebok accelerated in the second quarter with currency-neutral sales increasing 13% and 16% respectively.”

Herbert Hainer stated: "The record first half performance and the financial strength of our Group provides us with plenty of firepower to accelerate our marketing and investment offensive in the coming quarters. Whether it's toning, lightweight technologies or lifestyle, our brands are right on the consumer pulse. The energy we are creating in the market this year will be an important catalyst in propelling our Group to new heights in the years to come."

adidas Group currency-neutral sales increase at double-digit rate in the second quarter
During the second quarter of 2010, Group revenues increased 11% on a currency-neutral basis. Currency-neutral revenues in Western Europe increased 13% supported by strong growth in the football category. Currency-neutral sales in European Emerging Markets increased 25% driven by double-digit growth in both the Wholesale and Retail segments.

Group sales in North America grew 8% on a currency-neutral basis, driven by a 7% sales increase for adidas and a 30% sales increase for Reebok in the region during the second quarter. Currency-neutral sales in Greater China declined 18% due to the continued efforts to reduce inventories in the market. Currency-neutral sales in Other Asian Markets and in Latin America were up 11% and 27% on a currency-neutral basis, respectively. Currency translation effects had a positive impact on segmental sales in euro terms. Group revenues grew 19% to € 2.917 billion in the second quarter of 2010 from € 2.457 billion in 2009.

Second quarter diluted EPS at € 0.60
The Group's gross margin increased 4.0 percentage points to 48.9% (2009: 45.0%) in the second quarter mainly due to lower input costs, less clearance sales and a larger share of higher-margin Retail sales as well as positive currency effects, particularly related to the Russian rouble. Group gross profit increased 29% to € 1.427 billion (2009: € 1.105 billion).

Other operating expenses as a percentage of sales were stable compared to the prior year at 43.9%. Higher marketing expenses were offset by a decline in operating overhead expenditures as a percentage of sales. As a result of the higher gross margin, the Group's operating margin increased 3.8 percentage points to 6.7% in the second quarter of 2010 versus 2.9% in 2009.

Operating profit increased 172% to € 195 million in the second quarter of 2010 compared to € 72 million in 2009. In the second quarter of 2010, the Group's net income attributable to shareholders amounted to € 126 million (2009: € 9 million). Diluted earnings per share for the second quarter increased significantly to € 0.60 (2009: € 0.06).

Click here for more details

adidas Group


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search