PARIS — Adidas AG raised its profit forecast for the second time this year on Wednesday, saying earnings per share in 2010 should increase to between 2.50 and 2.62 euros, or $3.30 to $3.46 at current exchange. That’s roughly 20 percent above previous guidance.
The world’s second-largest sporting goods company — which last month released preliminary first-half results showing a big lift from the FIFA World Cup in South Africa — said it anticipates improvement in all segments, especially in company-owned retail. Sales are expected to rise at a mid-single-digit rate for the full year.
Adidas, based in Herzogenaurach, Germany, also trumpeted the “resurgence” of Reebok in North America, where total group sales in the second quarter rose 8 percent: 7 percent for the Adidas brand and 30 percent for Reebok.
Herbert Hainer, chief executive officer, said on a conference call, “We have accelerated our momentum in the U.S. as we introduced more and more toning products. We generated new excitement in the category, being the first to extend our toning platform from walking into running.”
Hainer said momentum from the massive soccer tournament would continue. “In total, the football category sales were up over 60 percent in Q2 and almost 50 percent for the half year,” he said. “Therefore, we continue to expect record sales of at least 1.5 billion euros in football for the entire year of 2010.”
Adidas outfitted 12 of the national teams competing in the World Cup, including Spain, the victor.