Home / Knowledge / News / Apparel/Garments / adidas currency-neutral sales up at double-digit rate in Q3
adidas currency-neutral sales up at double-digit rate in Q3
09
Nov '10
adidas Group, a global leader in the sporting goods industry announced nine months results for 2010.

• adidas and Reebok currency-neutral sales increase 10% and 14% respectively in Q3
• Group sales grow in all geographies in Q3, with North America and Greater China increasing 14% and 9% currency-neutral respectively
• Comparable Retail store sales increase 10% currency-neutral in Q3
• Nine months Group gross and operating margins increase 3.1 and 3.7 percentage points respectively

“I am pleased to report that the third quarter met our high expectations. All key brand initiatives continued to resonate with consumers around the world,” commented Herbert Hainer, adidas Group CEO. “Double-digit revenue growth in football, adidas Sport Style and Reebok year-to-date, as well as a resumption of growth in Greater China in the third quarter all reflect a well executed 2010 strategy.”

Herbert Hainer stated: "We have made an explosive comeback in 2010, and I fully expect us to round off the year on a high. Although the fourth quarter is a seasonally small one in terms of sales and profit, it is nonetheless an important period for seeding some of the initiatives that will inspire and excite consumers for our brands in the year ahead. While we will certainly face headwinds from higher input costs and currency volatility, with our powerful brands, extensive global presence and commitment to innovation, we are ready to face any challenges 2011 may bring our way. And I am already confident we have what it takes to deliver considerable top- and bottom-line improvements in the year ahead."

During the third quarter of 2010, Group revenues increased 10% on a currency-neutral basis. Currency-neutral revenues in the Wholesale and Retail segments increased 10% and 16%. Sales for Other Businesses increased 4%. Currency-neutral revenues in Western Europe increased 8% supported by strong growth in the football category. Currency-neutral sales in European Emerging Markets rose 16%, driven by growth in both the Wholesale and Retail segments.

Group sales in North America grew 14% on a currency-neutral basis, driven by a 15% sales increase for adidas and a 25% sales increase for Reebok. Currency-neutral sales in Greater China grew 9%, driven by increases in both the Wholesale and Retail segments. Currency-neutral sales in Other Asian Markets and in Latin America were both up 7% on a currency-neutral basis. By major brand, adidas and Reebok sales increased 10% and 14% currency-neutral respectively, while TaylorMade-adidas Golf sales were up 4% currency-neutral. Currency translation effects had a positive impact on sales in euro terms. Group revenues grew 20% to € 3.468 billion in the third quarter from € 2.888 billion in 2009.

Third quarter diluted EPS at € 1.27
The Group's gross margin increased 2.1 percentage points to 47.3% (2009: 45.3%) in the third quarter, mainly due to lower input costs, less clearance sales and a larger share of higher-margin Retail sales. Group gross profit increased 26% to € 1.641 billion (2009: € 1.307 billion). Other operating expenses as a percentage of sales increased 1.7 percentage points to 36.8% compared to the prior year (2009: 35.1%).


Must ReadView All

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Textiles | On 29th Jun 2017

Vietnam’s textile & garment exports cross $10bn till May

Vietnam earned $10... billion from textile and garment exports in the ...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X