Adidas Chases World Cup Sales, but Profits Dip in Q2
The Big a touted a huge top-line benefit from World Cup jersey sales and other merchandise in the second quarter, with a 34% jump in apparel sales pushing total revenues up 13% to €6,743 million ($7,841 mm) from €5,952 million. But a 30% increase in Q2 marketing spend hit the bottom line, as net income attributable to shareholders declined 4% to €355 million ($413 mm) from €369 million. Most of the growth came from direct-to-consumer, increasing 24% to €2,909 million, with brick-and-mortar up 23% and e-commerce growing 27%. Wholesale sales increased ... Log in to view full article.