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Strict Apple controls prompt Adidas to pull iAd campaign

iadThe world’s second largest apparel company, Adidas, is set to exercise its option of abandoning an extensive advertising campaign on Apple’s new iAd advertising Internet network, worth as much as $12-million, according to a person familiar with the matter who spoke on condition of anonymity because the decision was not yet made public.

The decision comes as Apple failed to accept up to five different advertising campaigns the company had created for Apple to run primarily on websites designed for the iPhone.

Adidas subsequently pulled out of the agreement, following the time consuming and costly process of repeatedly creating different campaigns that never seemed to fully satisfy Apple executives.

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Adidas reports Q4 and full year 2009 earnings

Adidas reports poor 2009 earnings as FIFA World Cup approaches

The German apparel company, Adidas, today announced full year 2009 and fourth quarter 2009 financial earnings.

Fourth-quarter profits were €19-million, down more than 60-percent compared to the same period last year. The company said write-downs and higher costs for the 2010 FIFA World Cup this June attributed to the lower than expected operating profits.

Analysts were expecting €25-million in total profits in Q4 2009.

The company warned of an expected weakening in 2010, but increased its forecasted diluted EPS that is estimated to be up to €1.90-2.15 in 2010. 2009 diluted EPS was €1.22.

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