adidas Group currency-neutral sales increase 14% in the first quarter of 2012
In the first quarter of 2012, Group revenues increased 14% on a currency-neutral basis as a result of double-digit sales increases in Wholesale, Retail and Other Businesses. Currency translation effects had a positive impact on sales in euro terms. Group revenues grew 17% to € 3.824 billion in the first quarter of 2012 from € 3.273 billion in 2011.
“We are off to a fast start in 2012 and there is still plenty to come as adidas takes centre-stage at the UEFA EURO 2012 and the London 2012 Olympics,” commented Herbert Hainer, adidas Group CEO. “We have worked hard to keep inventories at industry-low levels. With the backdrop of clean markets, you will see us push forward with a whole host of new innovative product and brand experiences that will continue to excite consumers and customers around the world.”
Group sales increase driven by double-digit sales growth in all segments
In the first quarter of 2012, currency-neutral Wholesale revenues increased 10% due to double-digit sales growth at adidas. Currency-neutral Retail sales increased 16% versus the prior year, driven by 9% comparable store sales growth. Revenues in Other Businesses were up 32% on a currency-neutral basis, driven by strong double-digit sales increases at TaylorMade-adidas Golf and Reebok-CCM Hockey.
Currency translation effects had a positive impact on segmental sales in euro terms. Wholesale revenues increased 13% to € 2.614 billion from € 2.320 billion in 2011. Retail sales rose 20% to € 693 million versus € 577 million in the prior year. Sales in Other Businesses grew 37% to € 517 million (2011: € 376 million).