Sales at adidas and Reebok increased 10 per cent and 14 per cent respectively during the third quarter of this year, while group revenues jumped 10 per cent.
In Western Europe revenues for the second largest sports manufacturer in the world rose eight per cent on the back of strong football sales, while group sales in North America grew 14 per cent, driven by a 15 per cent increase in sales for adidas and a 25 per cent rise for Reebok.
As a result, group gross profit went up 26 per cent to €1.64billion.
“The third quarter met our high expectations,” says Herbert Hainer, adidas group CEO.
“All key brand initiatives continued to resonate with consumers around the world.
“Double-digit revenue growth in football, adidas Sport Style and Reebok, as well as a resumption of growth in Greater China in the third quarter, all reflect a well executed 2010 strategy.”
Hainer adds: “We have made an explosive comeback in 2010, and I fully expect us to round off the year on a high.
“Although the fourth quarter is a seasonally small one in terms of sales and profit, it is nonetheless an important period for seeding some of the initiatives that will inspire and excite customers in the year ahead.
“While we will certainly face headwinds from higher input costs and currency volatility, with our powerful brands, extensive global presence and commitment to innovation, we are ready to face any challenges 2011 may bring our way.
“And I am already confident we have what it takes to deliver considerable top and bottom line improvements in the year ahead.”
