adidas Group currency-neutral sales grow 10%

06 May '08

3 min read

adidas sales in euro terms increased 8% to € 1.968 billion in the first quarter of 2008 from € 1.819 billion in 2007. Sales at Reebok decreased 13% to reach € 454 million versus € 524 million in the prior year. TaylorMade-adidas Golf sales in euro terms increased 6% to € 191 million in 2008 from € 180 million in 2007.

Currency-neutral sales grow at a double-digit rate in all regions except North America:
adidas Group sales grew at double-digit rates in all regions except North America where revenues declined. First quarter adidas Group sales in Europe grew 12% on a currency-neutral basis as a result of strong increases in the region's emerging markets.

In North America, Group revenues declined by 7% on a currency-neutral basis due to lower adidas and Reebok sales in the USA and Canada. Sales for the adidas Group in Asia increased 25% on a currency-neutral basis in the first quarter of 2008, driven by particularly strong growth in China and Korea. In Latin America, currency-neutral sales grew 18% in the first quarter, with increases coming from all of the region's major markets.

Currency translation effects negatively impacted sales in euro terms in all regions. Sales in Europe increased 9% in euro terms to € 1.249 billion in 2008 from € 1.149 billion in 2007. Revenues in North America decreased 17% to € 578 million in 2008 from € 698 million in the prior year. In euro terms, revenues in Asia grew 18% to € 594 million in 2008 from € 501 million in 2007. Sales in Latin America grew 13% to € 177 million in 2008 from € 157 million in the prior year.

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