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World Cup Boom Powers adidas 1st Half Sales Advance

Godfrey Deeny
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.

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* Stella Hits the Slopes with 2006 Wintersports Collection

* LVMH Scores 13% Rise in First Half 2006 Sales


* Versus Hires Jonathan Anderson

* Cacharel Unveils New CEO, in Major Corporate Revamp


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