adidas group sales grow 9% on currency-neutral basis
08 May '07
3 min read
At TaylorMade-adidas Golf, currency-neutral revenues decreased 4%. On a like-for-like basis, excluding prior year GNC sales, however, sales increased 5%. Currency translation effects negatively impacted sales at all brands in euro terms. adidas sales in euro terms increased 2% to € 1.819 billion in the first quarter of 2007 from € 1.776 billion in 2006. Sales at Reebok increased 15% to reach € 524 million versus € 454 million in the prior year. TaylorMade-adidas Golf sales in euro terms declined 10% to € 180 million in 2007 from € 201 million in 2006.
Sales increase strongly in nearly all regions : adidas Group sales grew strongly in all regions except North America where sales were stable. This growth was driven by strong operational developments at brand adidas as well as the consolidation of three months of Reebok's revenues in the first quarter of 2007 versus only February and March in the prior year. First quarter adidas Group sales in Europe grew 10% on a currency-neutral basis.
In North America, Group sales were stable on a currency-neutral basis. Sales for the adidas Group in Asia and Latin America increased 13% and 36% respectively on a currency-neutral basis in the first quarter of 2007. Currency translation effects negatively impacted reported sales in all regions. Sales in Europe increased 8% in euro terms to € 1.149 billion in 2007 from € 1.067 billion in 2006. Sales in North America decreased 8% to € 698 million in 2007 from € 759 million in the prior year. In euro terms, revenues in Asia grew 6% to € 501 million in 2007 from € 474 million in 2006. Sales in Latin America grew 25% to € 157 million in 2007 from € 126 million in the prior year.
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