Lifestyle brand adidas Group released the first quarter for 2006. In the first quarter of 2006, Group sales increased 40% on a currency-neutral basis, mainly driven by the first-time consolidation of the Reebok business segment.
Sales for the adidas Group excluding Reebok increased 13% on a currency-neutral basis supported by higher sales in all regions.
“The adidas Group has got off to a powerful start in the first quarter of 2006,” commented adidas-Salomon AG Chairman and CEO Herbert Hainer.“ Both adidas and TaylorMade-adidas Golf delivered excellent top- and bottom-line results, and Reebok sales clearly outperformed order backlogs.”
The adidas segment set the pace for the Group's organic sales growth in the first quarter of 2006. Currency-neutral adidas revenues increased 12% during the first three months. Drivers of this growth were significant increases in nearly all Sport Performance categories as well as double-digit growth in the Sport Heritage and Sport Style divisions.
The Reebok segment, which was consolidated for the first time in the first quarter of 2006, contributed € 454 million to adidas Group sales. At TaylorMade-adidas Golf currency-neutral revenues increased 26%. This positive performance was driven by strong double-digit growth in all major categories and the first-time inclusion of the Greg Norman apparel business.
First quarter adidas Group sales in Europe grew 20% on a currency-neutral basis, mainly reflecting the first-time consolidation of the Reebok segment as well as increases at brand adidas.
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