It looks like being a strong 2011 for Adidas as it raised its forecast for the year on the back of a strong three months to the end of June.
Net profits for the designer brand came in at €140million – that’s up 11 per cent compared to the same period last year.
Record earnings
Adidas is now on track for record earnings for the full year – this is despite the fact that 2011 is not an Olympic or World Cup year and major sportswear companies traditionally do much better during years with significant tournaments.
It is predicting that earnings could range from 3.10-3.12 euros per share – that’s up from original predictions of 2.98 euros a share. This could potentially represent a 15 per cent increase when compared to the 2010 figure.
According to a company statement, high exposure to fast growing emerging markets and the expansion of retail – as well as continued momentum among key brands – has helped to offset the lack of sales relating to the absence of a World Cup.
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