Companies and Brands
Addidas Reports Strong Sales in China
Published:
Last Updated:
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.
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.
It’s Your Money, Your Future—Own It (sponsor)
Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.
If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.