Athletic goods maker Adidas' 2Q net profit rises 24 percent (AP) Updated: 2006-08-10 09:51
But the company expects lower growth in the overall market for sporting
goods.
"This will be the case especially in Europe, where the market in the first
half of the year was dominated by excitement in the run-up to the 2006 FIFA
World Cup," Hainer said in a statement. "In Western Europe, growth will return
to a more normalized level."
Hainer said Adidas' main challenge would be Britain, but added that new
partnerships with Chelsea FC and Liverpool FC would help it increase sales
there.
North America was also likely to be a challenge, but growth in Asia was
likely to see double-digit sales increases.
Adidas said its activities in the second half of the year will center on the
Reebok integration, and that running would be the group's most important
category in 2007.
For the first six months of the year, Adidas earned euro226 million (US$290
million) compared with euro171 million in the first half of 2005. Sales for the
January-June period rose to euro4.9 billion (US$6.3 billion) from euro3.2
billion.
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