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Companies and Brands

Addidas Reports Strong Sales in China

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By Douglas A. McIntyre Updated Published
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Athletic shoes

The running shoe business continues to hold its own, particularly if the running shoes are used for golf or are sold in China.

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.

Adidas reported:

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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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