Reebok sales fall but adidas stands firm
Adidas revenues grew 14% on a currency-neutral basis in the fourth quarter, driven by strong sales increases at both adidas and TaylorMade-adidas Golf, offset slightly by a decline in Reebok sales.
On a regional basis, sales grew by double-digit rates in all regions except North America, where sales increased at a low-single-digit rate. Currency movements negatively impacted revenues in euro terms, with group sales rising 8% to €2.4 billion ($3.7 billion) in the fourth quarter compared with €2.2 billion in the prior-year period.
For full year 2007, adidas sales rose 7% to €7.1 billion from €6.6 billion in 2006. Reebok sales fell 6% to €2.3 billion compared with €2.5 billion, while TaylorMade-adidas Golf sales declined 6% to €804 million from €856 million in 2006.
Group sales in Europe grew 7% with strong growth in the region’s emerging markets. Group sales in North America fell 2% because of lower Reebok sales in the USA. Sales in Asia rose 18%, driven in particular by strong growth in China, while sales in Latin America grew 38%.
Group sales are likely to rise at a high-single-digit rate in 2008, driven by growth in all brands.
