Inventory "Abdominal Distension" Digestion Has Been Completed &Nbsp; Adidas Is Lining.

"In the first half of this year, our comparable sales growth (one of the indicators of retail industry" refers to the sales storefront with more than one year's historical data, which can float for comparable sales) over competitors.

In an interview with reporters yesterday, Gao Jiali, chairman of Adidas group Greater China, repeatedly mentioned "comparable sales growth".

He did not specify who the "competitors" were, but from the current situation, the old rivals all over the world.

Last week, Adidas, the international sporting goods brand, announced its second quarter earnings in 2011, showing that net profit for the quarter was 140 million euros ($200 million), an increase of 11% over the same period last year.

The performance is better than analysts had expected 137 million 300 thousand euros.

The report also showed that sales of Adidas Greater China (mainland China, Hongkong and Taiwan) amounted to 552 million euros, up 37% from 403 million euros last year, excluding the exchange rate factor, which increased 38% compared to the same period last year, ranking the first place in Adidas's six largest market.

Gao Jiali confirmed the performance of the Greater China region to reporters in the south, and said that in the two quarter of this year, sales grew by 41% over the same period.

Among them, the "sports performance" series has a strong growth rate.

It is worth noting that Gao Jia Li emphasized that Adidas's inventory in China has recovered to a healthy level.

3 years ago, at the opening of the Beijing Olympic Games, Adidas, as a sponsor, optimistically estimated the market and produced a large number of products. However, after the Olympic Games, it suffered the global economic crisis and was in a dilemma of high inventory.

"There is no uniform standard for the inventory industry. We usually calculate it on a monthly basis. It is more appropriate to see the dealer's inventory for several months, which is negotiated with the dealer again."

Gao Jiali said that after a period of adjustment, Adidas gradually recovered the old stock and updated the new stock.

After the adjustment of the channel, he believed that as long as there was no major economic crisis around the world, then the Adidas Greater China region could grow steadily every quarter.

2500 stores in small and medium cities in the next 4 years

Since the inventory problem was not completely solved, sales of Adidas in China in the first half of last year fell behind the domestic brand "one brother" Lining. Lining jumped to become China's second largest sports brand after Nike only.

However, although Lining's first half of 2011 financial report has not yet been released, but from the current situation, the position has to be changed again - a month ago, Lining issued a profit warning, estimated that the first half of the Group sales revenue fell 5% compared with the same period last year, the net profit margin will be reduced by half from 12.9% in the same period last year.

And Adidas keeps growing.

Dramatically, today's Lining has encountered inventory problems in the Post Asian Games era of Adidas.

It is said that Lining will spend 300 million yuan to repurchase inventory this year.

Morgan Stanley expects Lining to spend only 1 billion 448 million yuan on inventory repurchases in the next few years.

"From the media coverage, I saw that Lining had some difficulties.

Compared with domestic brands, I believe that international brands can achieve greater success. "

Gao Jiali said that Adidas China conducted a survey of 15000 consumers in 2010, referring to "what sports products were purchased last year", showing that Adidas ranked second.

He believes that since the implementation of the "2015 plan" last year, the growth rate of Adidas's channel customers has far exceeded that of its competitors.

"We can see that we have gained a certain market share from our competitors."

According to the "2015 way" plan announced by Adidas last year, Adidas will add 2500 new stores in small and medium-sized cities in the next few years, while the number of cities covered by shops will increase from about 550 last year to more than 1400.

These areas have always been the "home" of the domestic brands represented by Lining.