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Despite low store count, Adidas records growth in China
09
Mar '11
Sports' goods giant, Adidas registered a 3 percent increase in sales in China for the year 2010. As per the annual results for 2010 announced on March 2, the company's sales revenue was €1 billion, an increase of 3 percent.

During the year, Adidas registered rise in sales' revenue in all its top five markets in the world. Overall, the Adidas Group registered sales' revenue of €12 billion, up 15 percent from the previous year. The management of the Group expected less than 10 percent growth but it surpassed the projections with better performance.

Gross margin of the Adidas Group was 47.8 percent in 2010, an increase of 2.4 percent. The main reason for increased gross profit margin is group's reduced discount activities, expanded higher-margin retail business as well as reduction in costs.

As per market watchers of sports' goods, with a better performance in China, Adidas has shown that it has passed the recession time. For the group, it was very hard to survive in 2009 as hundreds of Adidas stores were closed.

In addition to that, the numbers of new Adidas retail outlets were not significant in 2010. In this context, it was more difficult for Adidas to achieve a good growth rate from the existing stores. But the group showed strength and registered better performance.

Fibre2fashion News Desk - China

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