Double-digit growth at adidas
During the third quarter, adidas Group revenues increased by 10% on a currency-neutral basis. In euro terms, revenues grew 20% to EUR3.5 billion compared with EUR2.9 billion during the same period in 2009.
Revenues in Western Europe rose 8% supported by strong growth in the football category, while sales in European emerging markets rose 16%. Group sales in North America grew 14%, driven by a 15% sales increase for adidas and a 25% sales increase for Reebok.
Sales in Greater China grew 9%, while sales in other Asian markets and in Latin America were both up 7%.
By brand, adidas and Reebok sales increased 10% and 14%, respectively, while TaylorMade-adidas Golf sales were up 4%.
During the third quarter, the group’s net income increased by 25% to EUR266 million from EUR213 million.
“I am pleased to report that the third quarter met our high expectations. All key brand initiatives continued to resonate with consumers around the world,” said Herbert Hainer, adidas Group CEO. “Double-digit revenue growth in football, adidas Sport Style and Reebok year-to-date, as well as a resumption of growth in Greater China in the third quarter, all reflect a well-executed 2010 strategy.”
