Adidas’ game plan results in ‘stellar’ third quarter
05/11/2015
Currency-neutral Reebok sales were up 3% versus the prior year, with revenues more than doubling in Greater China and growing at double-digit rates in Latin America, Japan as well as MEAA.
Even though the group in August suggested it would be pulling away from the gold market, “target significant operating overhead savings” increased 6% currency-neutral, mainly due to double-digit growth in North America.
However, sales fell in Russia, where there were further store closures.
Herbert Hainer, adidas Group CEO, said: “Our relentless focus on the consumer is clearly paying off: The great momentum that adidas and Reebok are enjoying across the globe proves that our products and marketing are resonating extremely well with the target audience, both in the lifestyle and the performance arena. The third quarter shows that, in combination with our excellence in execution, this is the game plan to drive brand desirability and generate strong top- and bottom-line growth.”
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