Adidas meet sales goals for Euro 2004

21 December 2004

Adidas-Salomon AG, the world's second-largest sporting-goods maker, expect their share of the global soccer equipment market to rise to 35% this year after the Euro 2004 tournament boosted revenue. According to chief executive Herbert Hainer sales of soccer-equipment will exceed 900 million euros ($1.2 billion) in 2004, compared to 800 million euros last year. 'We have great momentum and this will continue well into 2006 and beyond when the FIFA World Cup is played in Germany', Hainer said. The group based in Herzogenaurach, Germany, have entered into a marketing agreement with sports-equipment retailers Intersport International for the 2006 World Cup soccer tournament. Under the agreement, Intersport retailers will sell exclusive Adidas products for the event. Adidas-Salomon have forecast that earnings will increase by 20% this year, while sales will rise 5%. The company's marketing campaign aims to increase demand for their products in the run-up to the World Cup in Europe, where shoe orders were down 3% at the end of the third quarter. Shares of Adidas gained 1.30 euros, or 1.1%, to 120.97 euros in Frankfurt, bringing the advance in the last six months to 23% and valuing the company at 5.55 billion euros. Source: Bloomberg News

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