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November 29th, 2012 @ 11:04 AM
Cacharel Unveils New CEO, in Major Corporate Revamp
November 21st, 2012 @ 00:56 AM
Kane Drops Out of Versus in Major Shake-up
November 20th, 2012 @ 10:14 AM
Pucci’s Madison Avenue Store Debuts Massive Expansion
November 16th, 2012 @ 00:35 AM
Ghesquière Departs Balenciaga in Major Surprise
November 05th, 2012 @ 00:43 AM
Sao Paulo Fashion Week: Between Optimism and Fear
November 02nd, 2012 @ 00:28 AM
London Unveils Men’s Season Schedule
November 01st, 2012 @ 00:36 AM
Azzaro Releases Castello Branco
October 25th, 2012 @ 00:18 AM
Revenue Soars 22 Percent at LVMH in First Three Quarters
October 16th, 2012 @ 00:18 AM
Rykiel Names Geraldo da Conceicao Artistic Director
September 21st, 2012 @ 8:12 PM
Brazil’s New London Pop-Up
September 21st, 2012 @ 7:20 PM
McQueen Men Returning Home to London
September 12th, 2012 @ 7:19 PM
Roitfeld, Mum and Son, Open in Brazil
September 07th, 2012 @ 00:54 AM
Berluti Opens to Big-Time Business in London
September 06th, 2012 @ 3:27 PM
Stefano Pilati Back with a Bang at Zegna
September 05th, 2012 @ 7:10 PM
Hugo Boss Wows in Berlin, Plans for New York
July 06th, 2012 @ 00:17 AM
Salvatore Ferragamo: Crusin’ the Louvre
June 13th, 2012 @ 11:04 AM
Michel Klein Gains New Backer; Launches Sunglass Collection
June 13th, 2012 @ 00:48 AM
Sykes Jettisoned by Aquascutum; Maurer In at Rabanne
June 06th, 2012 @ 00:18 AM
Armani Conquers China, Chastises the Pope
June 01st, 2012 @ 11:53 AM
World Cup Boom Powers adidas 1st Half Sales Advance
August 10th, 2006 @ 11:24 AM
Sales of Adidas Group boomed in the second quarter as Europe's giant sporting goods conglomerate enjoyed huge demand for its soccer goods generated by this summer's World Cup in Germany.
First half sales at adidas (the company prefers its name spelt without a capital A) leapt 53% to €4.887 billion (or $6.255 billion).
Second quarter earnings accelerated 24% to €82 million (or $105 million), powered on by sales of the adidas Teamgeist footballs, the official World Cup ball, some 15 million of which were sold. The sales boom was well above analysts expectations, who had predicted earnings of €77.5 million.
Much of adidas sales increase was due to the addition of the revenue of Reebok, which adidas acquired last year.
Reebok, however, posted a sales decline of 9% to €1.050 billion, as adidas repositioned the brand and switched sponsorship of Liverpool FC, the UK's greatest soccer team, from Reebok to adidas. Liverpool made their competitive debut on Wednesday night in the new adidas team jerseys with a 2-1 home victory over Maccabi Haifa in the qualifying round of the European Champions' League, Europe's equivalent of the Super Bowl.
The sports giant also enjoyed strong sales of its futurist F50+ soccer boots, even though few of the prominent players who wore these new cleats had impressive World Cups.
Based in the small provincial German city of Herzogenaurach, adidas predicted that net income for all 2006 would rise to about €500 million, with Reebok bringing a positive contribution to the result.
The German giant is very bullish about its recently signed license with the National Basketball Association, which should spearhead its drive to win market share against Nike in the US.