Adidas sales boosted by World Cup but still expected to grow in 2011

IN RELEASING STELLAR results for 2010 adidas pointed to the impact of the World Cup which propelled sales to a whopping €12bn. Net profits were up 131% for the year showing just how important sport’s major events are to the apparel industry. Despite a lack of a football World Cup in 2011 the company is still forecasting sales increases of around 7% and profit growth of 10-15%. Growth is expected on the back of “rising consumer confidence and faster-growing emerging markets” which should offset rises in the costs of raw materials. - 3/3/2011

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