Retail Human Resources plc
Sales soar at Adidas
26 July 2010 11:10
Adidas has seen its second quarter profit soar, beating estimates and "materially above market expectations". Net profit rose to Eu126 million from Eu9 million posted a year earlier, with analysts forecasting net profits of around Eu73 million. Full second quarter earnings are due in August.
In May, the German sporting goods company raised its 2010 profit expectations to between Eu430 and Eu480 million despite posting weak results for 2009. The company sponsored 12 of the 32 competing teams in the World Cup, boosting sales growth of 11% for the quarter.
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