Q3 currency neutral sales surge 17% at Adidas Group

04 Nov '16

1 min read

For the three months ended September 30, 2016, driven by strong momentum at both Adidas and Reebok brands, currency neutral sales surged 17 percent year on year at German sports goods and sportswear marketer Adidas Group. Revenues soared 14 per cent from a year ago period on a euro basis, to touch €5.413 billion in the third quarter of 2016.

Of all brands at Adidas Group, Adidas brand revenues grew 20 per cent on a currency-neutral basis, while sales rose slower at 7 per cent at Reebok and TaylorMade-Adidas Golf revenues increased 6 per cent, also on a currency-neutral basis.

However, despite the surge in sales, the group's gross margin declined 0.9 percentage points to 47.6 per cent in the reporting quarter as against 48.4 per cent in the prior year's third quarter.

In the quarter under review, operating profit expanded 11 per cent, over a year earlier quarter to €563 million, while net income drove up 24 per cent to €386 million from €311 million in the third quarter of 2015. (AR)

Fibre2Fashion News Desk – India

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