Adidas Hits the Financial Headlines
Adidas has dominated the financial news. The BBC recently ran the headline: 'Adidas sees profits plunge by 95%'. But the sportswear giant insist it still has plenty to play for. Adidas are the second biggest sporting goods manufacturer in the world – they have clout. And it seems even something as catastrophic as a global recession isn't enough to stop them coming out winning. But as the BBC detailed, the net profit for Adidas between April to June 2009 was 8m euros, compared to 117m euros in the same period the year before. The figures equated to a 93% fall in profits.Adidas Remain Upbeat
But the sporting brand has a winning attitude. And it's an attitude that's helped ensure they've become one of the leading players in the sportswear league. Adidas boss Herbert Hainer was positive and upbeat – he told the BBC: "I believe we have seen the bottom in our financial performance this year...We did not see any fundamental deterioration in our business since publishing our first-quarter results... I am confident that our results will improve as we go through the remainder of the year."Adidas Versus Nike
Although the profits have dropped dramatically (over the full year to date, profits dropped by 96% compared to the same period a year ago) the company is still making profits – up 12m euros over the year. Adidas sales have also grown throughout America, and the company blames the drop on higher operating costs as well as the competitive, struggling retail market. Adidas may be one of the most well known brands on the planet, but it still comes second to Nike – despite buying Reebok in 2006 to help the brand compete against its main rival.Adidas – The Worst is Over
Despite the plummet in profits, it's expected the news around Adidas for the rest of the year will be positive – the brand has also seen a boost in its new golf wear brand. Taylormade. A number of high profile sporting events are also expected to spur Adidas sales, including football's 2010 World Championship. It seems if any brand is going to beat the financial recession, it will be Adidas, who know a thing or two about being on a winning team.Adidas at Footasylum
Adidas Originals is one of the most popular brands in the world - buy it online from Footasylum. We also stock clothing, footwear and accessories by other leading brands, including Lacoste, G-Star and Nike.