Adidas'S First Quarter Profit Growth

　　阿迪達斯日前宣布，今年第一季度全球市場營業利潤大幅增長，從去年同期的5800萬歐元猛增至2.6億歐元。分析人士表示，阿迪達斯中國區受春節長假和庫存減少刺激，業績預計也將好于上年同期。

The results show that Adidas's global revenue in the first quarter of this year was 2 billion 700 million euros, up 4% over the same period last year, and its operating profit increased sharply to 260 million euros due to the increase in gross margin and operating costs.

Adidas noted in particular that in January this year, a legal lawsuit was settled, and the sale of a trademark also brought tens of millions of euros in operating profits to Adidas.

Sporting goods industry Lin Weiyue told the first financial daily: "Adidas's first quarter operating profit rebound should be related to inventory reduction. One of the main reasons for its poor performance in 2009 is that there is too much inventory and can only be discounted, so profits and revenues are all affected."

Adidas's 2009 annual report shows that gross margin declined from 48.7% in 2008 to 45.4% in 2009, and sales in the Greater China region fell 10% to 967 million euros.

Sporting goods market watchdog Ma Gang said: "from the first quarter of this year, Adidas's sales in China are estimated to be better than the same period last year. The Spring Festival holiday is very obvious, and the sales growth of the sports industry is around 10%."

Ma Gang said, although Adidas's first quarter performance rebound, the two quarter performance is still difficult, he said that the domestic sporting goods market entered the April after the emergence of a weak phenomenon, some brands can only complete the target sales of 60%~70%; Lin Wei Yue introduced, such as the sea and other markets, for example, local brands Lining [29.200.86%] (02331.HK), Anta (02020.HK), PEAK (01968.HK) are in a large number of shops, and shop speed is very fast, Adidas's action is not big.

Ma Gang believes that Adidas failed to cooperate with Adidas last year due to poor performance. If it can not speed up the reconstruction of sales channels, Adidas's performance recovery will still face greater pressure.