Adidas Reveal 10 Percent Sales Rise to USD16.4bn for ’10

March 2, 2011

Leading sporting goods company Adidas has announced that it made record sales last year and is in “fantastic” shape, helped by the income from the 2010 World Cup and an improved economy last year.

Sales rose 9 per cent to US$16.4bn for 2010, with net income more than doubling to $783.8m.

Adidas was able to keep profit margins and prices higher for longer, making fewer discounts in the process.

Adidas said sales of the brand rose 10 per cent, while its other key brand Reebok recorded a 15 per cent increase in sales, with growth in all regions.

Herbert Hainer, Adidas Group’s chief executive, revealed that it had been an excellent year for the business, stating: “Not only did we meet, but we beat all our initial expectations for the year.

“We outgrew our major competitors, achieving record sales of 12bn euros ($16.4bn). Therefore, I am proud to report that our group is in fantastic shape.”