Adidas Has Raised Its Annual Profit Target With Sporting Events.

On the morning of August 2nd, Adidas raised its annual profit target on Thursday, despite the movement. clothing The industry is sluggish, but it benefited from the Summer Olympics and European sponsors' Sponsorship status, and the company achieved substantial profits in the second quarter.

Adidas raised its annual profit growth rate from 12% to 17% to 15% to 17%.

The German company is sponsoring this summer's London Olympics by 100 million pounds (155 million 900 thousand US dollars), including signing Yohan Blake (sprinter Blake) and Gaye (Tyson Gay) with the aim of improving its global status and narrowing the gap with Nike, the market leader.

Adidas is also one of the official sponsors of the European Cup. It has sponsored 6 teams, including the champions Spain.

The company's performance on Thursday showed that its investment in these events has been rewarded. The company's net profit in the second quarter reached 165 million euros, an increase of 18% over the same period last year. The average of 10 analysts surveyed by Dow Jones newswires was 158 million euros in profit.

Adidas's first quarter sales increased 15% to 3 billion 520 million euros, and analysts expected it to be 3 billion 520 million euros.

Adidas's performance contrasts sharply with Nike, its main competitor. In June, Nike reported that net profit fell by 7.6% in the fourth quarter due to lower profit margins, higher marketing costs and slower growth in the Chinese market, which is below analysts' expectations.

Adidas's share price has risen 19% in the past year, outperforming the European Stoxx consumer price index, which rose 7% in the same period. Puma rose 5%.

Adidas closed at $60.90 on Wednesday, and its market value was 12 billion 700 million euros.