adidas has upped its 2011 sales and earnings guidance after a stronger than expected half-year performance.
The group’s sales increased 14 per cent in the first six months of 2011 to €6.337.
As a result, the brand now forecasts group sales to increase at around 10 per cent for the year.
Group revenues grew five per cent in Western Europe, supported by double digit growth at TaylorMade-adidas Golf and sales increases at adidas.
This figure was 41 per cent in China and five per cent in North America.
“After outlining our strategic vision for the company through to 2015 late last year, we have wasted no time and come out of the starting blocks in typical adidas Group fashion – fast and focused,” says Herbert Hainer, adidas Group CEO.
“No matter which way we break down our results – by segment, by region or by brand – all facets of our business are excelling.”
Hainer adds: “”No matter which retailer I speak to or which market share statistic I read, our product sell-throughs are stronger than they have ever been.
“Despite severe external pressures from currency volatility and rising commodity prices, we were able to defend our profitability as a result of our unparalleled strength in innovation and design as well as supply chain excellence.
“After the strong first half performance, we are on our way to record sales and earnings in 2011.”
