Adidas looks to World Cup to boost sales as income plunges

ADIDAS is counting on the World Cup and the revival of its Reebok brand to return to growth this year after posting a weak finish to 2009.

The German sportswear company suffered a 64 per cent drop in net income in the last three months of 2009 from a year earlier.

The company said yesterday its fourth quarter net income was €19m (£17m), down from €54m in 2008.

With 98 days to go until the tournament in South Africa kicks-off the sports retailer said it expects 2010 net profit to rise.

Adidas is providing the official World Cup ball and is hoping the competition will see a flurry of sales of goods to football fans.

Adidas also recorded €33m of write-downs on Chinese distribution rights of its subsidiary Reebok and on its stores.