Group sales at adidas increased eight per cent to €11.5 billion for the first nine months of 2012, despite a Reebok sales slump in North America and Asia.
Third quarter sales at Reebok fell 25 per cent as a result of the non-recurrence of prior year licence sales, as well as negative impacts from the Reebok India Company, where it’s been alleged a multi-million pound fraud took place this year.
In contrast, Q3 sales at adidas increased 10 per cent and four per cent at TaylorMade-adidas Golf.
“These impressive financial results reflect our relentless focus on creating the industry’s most desirable brands, which we are doing through consistent product innovation, brand authentication and investment,” says Herbert Hainer, adidas Group CEO.
“We have grown the bottom line faster than the top line now for the last seven quarters, which ensures we will deliver another year of record financial results for 2012.”
