Addidas Reports Strong Sales 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.