Adidas Says Outdoor-Gear Growth Is Outpacing Sports Goods
07.05.11
Adidas AG (ADS) said revenue from outdoor
gear such as hiking boots and mountaineering jackets is rising
at a faster pace than sporting goods and it plans to continue
expanding in the category without the help of acquisitions.
Outdoor products accounted for 200 million euros ($290
million), or 1.7 percent, of revenue in 2010, Rolf Reinschmidt,
senior vice president and head of the global outdoor unit, said
in an interview with Bloomberg Television in New York yesterday,
identifying the size of the business for the first time.
Outdoor gear “has been one of the fastest-growing
categories within the Adidas group in 2010 and that trend is
clearly expected to continue,” Reinschmidt said.
Adidas, the world’s second-largest sporting-goods maker,
yesterday reported a 25 percent increase in first-quarter net
income and said it’s more optimistic about sales growth this
year, sending its shares to a record. Outdoor gear outpaced the
company’s growth in the quarter, Reinschmidt said.
Source: Bloomberg