Home / Knowledge / News / Apparel/Garments / adidas Group is in fantastic shape, CEO
adidas Group is in fantastic shape, CEO
02
Mar '11
During the fourth quarter of 2010, adidas Group revenues increased 9% on a currency-neutral basis. Currency-neutral revenues in the Wholesale and Retail segments increased 8% and 23%, respectively. Sales for Other Businesses decreased 3%. By brand, adidas and Reebok sales increased 10% and 15% currency-neutral, respectively. Currency-neutral revenues in Western Europe increased 3% due to growth in the Wholesale and Retail segments as well as Other Businesses.

Currency-neutral sales in European Emerging Markets rose 22%, driven by significant growth in the Retail segment. Group sales in North America grew 12% on a currency-neutral basis, driven by a 13% sales increase for adidas and a 24% sales increase for Reebok.

Currency-neutral sales in Greater China grew 11%, driven by increases in both the Wholesale and Retail segments. Currency-neutral sales in Other Asian Markets grew 7% as a result of increases in all major markets. In Latin America, sales were up 8% on a currency-neutral basis, driven by both Wholesale and Retail. Currency translation effects had a positive impact on sales in euro terms. Group revenues grew 19% to € 2.931 billion in the fourth quarter from € 2.458 billion in 2009.

The Group's gross margin increased 0.3 percentage points to 46.5% (2009: 46.2%) in the fourth quarter, mainly due to a larger share of higher-margin Retail sales and less clearance sales. Group gross profit increased 20% to € 1.362 billion (2009: € 1.136 billion). Other operating expenses as a percentage of sales increased 0.5 percentage points to 47.1% compared to the prior year (2009: 46.6%).

This was mainly due to higher sales and marketing working budget expenses. As a result of the higher other operating expenses as a percentage of sales, the Group's operating margin decreased 0.8 percentage points to 1.0%. Operating profit declined 33% to € 28 million compared to € 42 million in 2009. In the fourth quarter of 2010, the Group's net income attributable to shareholders decreased 64% to reach € 7 million (2009: € 19 million). Diluted earnings per share went down to € 0.03 (2009: € 0.09).

"Our fourth quarter performance rounds off an excellent year for the adidas Group," commented Herbert Hainer, adidas Group CEO. "Not only did we meet, but we beat all our initial expectations for the year. All our brands scored with consumers in an improving worldwide economy. We outgrew our major competitors, achieving record sales of € 12 billion. Along the way, we generated an outstanding operating cash flow of € 1.2 billion. Therefore, I am proud to report that our Group is in fantastic shape."

Click here to read more details:

adidas Group


Must ReadView All

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Clash over monetary payment by UK at Brexit talks

Textiles | On 18th Oct 2017

Clash over monetary payment by UK at Brexit talks

The European Union (EU) and the United Kingdom (UK) are clashing over ...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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