Companies and Brands
Addidas Reports Strong Sales in China
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The running shoe business continues to hold its own, particularly if the running shoes are used for golf or are sold in China.
Source: Thinkstock
Adidas Group, which owns Reebok and other businesses, reported that for 2012 its revenue rose 6% to 14.9 billion euros. Its sales in China rose 15% to 1.6 billion euros. Despite the economic problems in its home market of Europe, which is its largest area by sales, revenue there was up 3% to 4.1 billion euros. Even the unemployed need shoes.
Group sales in North America were down 8% on a currency-neutral basis, as growth at adidas and Taylor Made-adidas Golf was more than offset by declines at Reebok, mainly due to the non-recurrence of prior year related NFL licence sales.
And:
In Greater China, Group sales were up 12% on a currency-neutral basis, driven by strong double-digit sales gains at adidas Sport Style.
Currency had an effect of two to three percentage points.
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