ADIDAS GROUP’S Q3 2015 STELLAR PERFORMANCE
THE GROUP RAISES FULL YEAR GUIDANCE
Adidas delivered an excellent performance in the third quarter of 2015. The Germany-based sportswear company reported a 17.7 percent increase in net sales to 4.8 billion euros in the three months ending Sept. 30. Net income grew 20 percent to 337 million euros while Group revenues ballooned 18 percent to 4.7 billion in the same period. The strong performance was driven by solid growth at Adidas, which advanced 19 percent, followed by Reebok up 6.6 percent and TaylorMade-Adidas Golf up 15.4 percent. Aside from weaker performances in Japan and losses in Russia, the Group’s outstanding momentum was fueled by an upswing in Greater China, which ballooned 35.4 percent, followed by North America and Europe which advanced 25.5 percent and 20.1 percent, respectively. The company also reported its nine-month results that highlighted a similar success with revenues up 17 percent to 12.7 billion euros versus the 10.9 billion euros of the previous year. “Our relentless focus on the consumer is clearly paying off. The great momentum that Adidas and Reebok are enjoying across the globe proves that our products and marketing are resonating extremely well with the target audience, both in the lifestyle and the performance arena,” said Herbert Hainer, Adidas Group chief executive officer. In a statement, the group said it expects a high-single-digit growth rate in 2015, improving its previous forecast of a mid-single-digit rate.