In the first quarter of 2015, Adidas Group revenues increased 9% on a currency-neutral basis, driven by a double-digit increase at adidas as well as high-single-digit growth at Reebok.
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Currency translation effects had a positive impact on sales in euro terms. Group revenues grew 17% to 4.083 billion euros in the first quarter of 2015 from 3.480 billion euros in 2014.
Currency-neutral adidas revenues increased 11%. This development was driven by double-digit sales increases in running, at adidas Originals and adidas NEO as well as a high-single-digit increase in training.
Currency-neutral Reebok sales were up 9% versus the prior year as a result of double-digit sales increases in the training and studio categories as well as mid-single-digit sales growth in Classics.
Revenues at TaylorMade-adidas Golf decreased 9% currency-neutral, mainly due to sales declines in the metalwoods and irons categories, which more than offset a double-digit increase in golf apparel.
In the first quarter of 2015, on a currency-neutral basis the combined sales of the adidas and Reebok brands grew in all market segments except Russia/CIS.
Revenues in Western Europe increased 11% on a currency-neutral basis, due to double-digit sales growth at both the adidas and Reebok brand. Currency-neutral sales in North America increased 7%, as a result of high-single-digit sales growth at adidas.
Revenues in Greater China were up 21% on a currency-neutral basis reflecting double-digit top-line growth at adidas and Reebok. Currency-neutral sales in Russia/CIS declined 3% as mid-single-digit growth at Reebok was more than offset by sales declines at adidas.
In Latin America, revenues grew 6% on a currency-neutral basis with a double-digit improvement at Reebok and a mid-single-digit increase at adidas. In Japan, sales were up 7% on a currency-neutral basis due to strong double-digit sales increases at Reebok as well as low-single-digit sales growth at adidas.
Sales in MEAA grew 10% on a currency-neutral basis, reflecting a double-digit top-line improvement at adidas.
Revenues in Other Businesses were down 1% on a currency-neutral basis. Double-digit sales increases in Other centrally managed businesses as well as high-single-digit growth at Reebok-CCM Hockey were more than offset by the sales decline at TaylorMade-adidas Golf. ■