German sportswear company adidas reported a better than expected rise in 2014 sales on Friday as it announced the sale of its non-core Rockport shoe brand.
The world’s second biggest sportswear group behind Nike has been losing market share to its US rival, which has been better at creating a buzz with its brands, but its sales were helped by the 2014 soccer World Cup and the victory of the German team it sponsors.
In Friday’s unscheduled statement ahead of full results due on 5 March, Adidas reported 2014 sales up 2 percent to EUR14.8 billion (USD16.8b), beating a Thomson Reuters Smart Estimate of EUR14.68 billion.
(Source: CNBC)