Strong Financial Performance for adidas
Adidas with strong financial performance in the third quarter FY 2017 top- and bottom-line outlook confirmed.
During the third quarter, adidas continued to deliver a strong financial performance with currency-neutral revenues up 12%. This development mainly reflects a 13% increase at brand adidas, which was driven by double-digit increases in the running and outdoor categories as well as at adidas Originals and adidas neo. Sales in the football and basketball categories declined, reflecting significantly lower licence revenues mainly due to the termination of two major sponsorship agreements.
Revenues at the Reebok brand grew 1%, as the planned efforts to clean up Reebok’s distribution in the US marketplace are having an increasingly negative impact on the brand’s top-line development. From a channel perspective, the company’s revenue growth was driven by increases in all distribution channels, with particularly strong support from eCommerce, where revenues grew 39%. In euro terms, sales for the company were up 9% in the third quarter to € 5.677 billion (2016: € 5.222 billion).
On a currency-neutral basis, the combined sales of the adidas and Reebok brands grew in all regions except Russia/CIS. Greater China (+28%) and North America (+23%) increased at double-digit rates each, driven by the adidas brand, which continues to enjoy particularly strong momentum in these key regions as reflected in growth rates of 29% and 31%, respectively.
