Adidas 2006 Sales Boosted By The Soccer World Cup in Germany
Adidas, a giantsports apparel manufacturer, announced that their 2006 sales grew 52 percent, boosted by the soccer World Cup in Germany and the purchase of Reebok in the United States. Adidas sales last year were 10.08 billion euros, and earnings before interest and tax (EBIT) rose by a quarter to 881 million euros ($1.16 billion).
“We strengthened our brand portfolio by acquiring Reebok and exceeded the 10 billion euro sales mark for the first time,” Adidas Chief Executive Herbert Hainer said.
Adidas said it expects 2007 sales to increase at a mid single-digit percentage rate. Gross margins are expected to be between 45 and 47 percent, driven by improvements in all three brands, in particular Reebok.
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