Shoe Maker Adidas Grew 10% In The Third Quarter Of 2010
Calculated according to the exchange rate unchanged.
Adidas
The group's revenue grew by 10% in the third quarter of 2010, of which wholesale and retail businesses grew by 10% and 16% respectively, while other businesses grew 4%.
Thanks to the strong growth momentum of soccer products, Western Europe's revenue grew by 8%, while the growth of wholesale and retail sales increased 16% in Europe's emerging market.
In the North American market, Adidas
brand
and
reebok
Brand sales increased by 15% and 25% respectively, and played a great role in bringing about a 14% increase in overall sales in the North American market.
The growth of wholesale and retail sales has led to a 9% increase in sales in Greater China.
Sales in Latin America and other Asian markets increased by 7%.
As the main brand of Adidas group, sales of Adidas and Reebok increased by 10% and 14% respectively. Taylor Adidas Golf increased by 4%.
Exchange rate changes have a positive impact on sales in euros.
The group's third quarter sales increased 20% from 2 billion 888 million euros in 2009 to 3 billion 468 million euros in 2010.
Adidas Group expects more power driven growth in 2011
In 2010, all the brands of Adidas group achieved good results. Meanwhile, according to the forecast, the consumer environment in 2011 will be further improved.
On this basis, Adidas Group expects sales and net income to grow in 2011.
According to the exchange rate unchanged, the group's sales in 2011 are expected to reach a median growth rate.
Increased investment, rising labor costs and exchange rate changes will become the main drag on the growth of group returns, but expect EPS growth to be 10% to 15%, faster than sales.
The detailed forecast for 2011 will be disclosed in the March 2011 Annual Report of Adidas 2010.
Greater China Performance
Thanks to the double growth of wholesale and retail sales, Adidas group's Greater China sales increased by 9% to 317 million euros in the third quarter, according to the exchange rate unchanged.
Adidas group global CEO Herbert Heiner (Herbert Hainer) said: "our business in Greater China is returning to victory.
Over the past year, we have worked closely with our partners to restore inventory to a healthy and reasonable level.
Chinese consumers' consumption ability and fashion sensitivity are rapidly improving. Therefore, we must return to the forefront as soon as possible in all sales channels. We are confident that we can do this.
In the past time, we have made great progress in sales planning, product listing and operation. In the coming year, Greater China will once again become an important engine to drive our business growth. "
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