Sales In Adidas Greater China Still Lag Behind Lining

March 3rd hearing Adidas Yesterday's 2010 annual results, the Greater China region achieved sales of 1 billion euros, an increase of 3% over the same period, excluding exchange rate factors, a decrease of 2% over the same period last year. And Adidas's five other big companies in the world. market Sales have increased.

The entire Adidas group achieved sales of 12 billion euros, an increase of 15% over the previous year, exceeding the projected growth of less than 10% year-on-year sales of Adidas management. Adidas group's gross profit margin in 2010 was 47.8%, an increase of 2.4 percentage points compared with the same period last year. Adidas explained that the increase in gross margin was due to a reduction in activities such as discount and inventory disposal, increased retail business with higher profit margins and lower cost.

Sporting goods market watchdog Ma Gang thinks, from the performance of the Greater China region, Adidas has come out of the recession in 2009. In 2009, some of Adidas's distributors closed hundreds of stores. In 2010, the number of Adidas retail stores increased little. Under such a background, Adidas is mainly relying on existing stores to achieve performance growth, which is not easy.

Market participants Chen Shixin said that in 2010, the income of Fujian sports brands such as Anta increased by an average of about 20%. The domestic sports brand "leader" Li Ning Co (02331.HK) revenue is expected to grow by about 15% over the same period last year. Although sales in Adidas China are out of the trough, there is still a certain gap compared with the domestic sports brands.

Chen Shixin said that according to the sales volume of Adidas Greater China 1 billion euros, about 9 billion 100 million yuan, Lining's income in 2009 was 8 billion 390 million yuan, for example, according to the growth rate of 15%, it is expected to reach 9 billion 600 million yuan in 2010, more than Adidas.

Compared with Nike, Adidas also has a certain gap. This reporter statistics, from December 1, 2009 to November 30, 2010, Nike's income in the Greater China region was 1 billion 864 million dollars, or about 12 billion yuan, such as the row of seats, Adidas's Greater China's income ranked. Nike After Lining, he was in the third place.

Ma Gang believes that Adidas needs to achieve breakthroughs in the Chinese market. In addition to improving the performance of existing stores, Ma should also focus on improving the revenue contribution of new (32.090, -0.23, -0.71%) categories, such as women's and men's fitness products. Ma Gang said that the traditional sports category is very mature, which can not be promoted much, and the competition is fierce. Fitness products and so on are emerging categories, catering to the needs of urban office workers' consumption upgrading, the profit margins are larger, and fewer competitors.