Seems like it’s going to be tough second half for Nike.
Adidas AG, the world’s second-largest sporting-goods maker, said second-quarter profit rose 27 percent as the $3.8 billion purchase of Reebok International Ltd. increased its bargaining power with suppliers.
Net income climbed to 104 million euros ($143 million) from 82 million euros a year earlier, Herzogenaurach, Germany-based Adidas said today in a statement. That beat the 97 million-euro median estimate of five analysts surveyed by Bloomberg.
Source: Bloomberg
World-Sneakers-Marketshare in a glance:
Champion: Nike- 33%
First Runner-up: Adidas- 16%
Second Runner-up: Reebok 10%
Half of Adidas’ sales come from Europe, he says, and 23% are derived from the U.S. Reebok, on the other hand, gets 55% of its sales from the U.S. and 34% from Europe. Combined, Adidas and Reebok would have roughly $11.1 billion in annual sales vs. Nike’s $13.7 billion.
Source: SmartMoney.com
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