Olympics Boost Adidas Earnings

Adidas spent a lot on the Olympics, and it looks like their strategy works. Unlike Nike and Puma the German sporting goods manufacturer has growing revenues and profits.

Chief Executive Herbert Hainer said he expects the Olympics to “provide further impetus to the global mega-trend towards sport and healthier living,” a trend the company aims to harness.

Adidas lifted its earnings growth forecast for this year to 15 – 17 percent from earlier net profit guidance of 12 -17 percent.

The German company has invested 155 million USD (about 46. billion HUF) ) on sponsorship at this summer's London Olympics, including deals with athletes such as sprinters Yohan Blake and Tyson Gay.

Adidas was also one of the official sponsors of the Euro 2012 soccer tournament, sponsoring six teams including champion Spain. [origo]