In the third quarter of 2012, adidas Group revenues grew 4% on a currency-neutral basis, driven by double-digit sales increases in Retail. Currency-neutral revenues in Western Europe increased 1%, supported by sustained momentum at adidas. In European Emerging Markets, currency-neutral sales grew 19% as a result of strong increases at both adidas and Reebok. Group sales in North America were down 5% on a currency-neutral basis, as double-digit increases at adidas and TaylorMade-adidas Golf were more than offset by strong revenue declines at Reebok.
In Greater China, Group sales were up 11% on a currency-neutral basis, driven by double-digit increases at adidas as well as growth at Reebok. Currency-neutral revenues in Other Asian Markets increased 1% as growth at adidas was partly offset by a strong sales decline at Reebok. In Latin America, currency-neutral sales grew 16%, driven by double-digit growth at adidas, TaylorMade-adidas Golf and Rockport. From a brand perspective, third quarter sales at adidas increased 10% currency-neutral. Sales in the TaylorMade-adidas Golf segment grew 4% on a currency-neutral basis.
Reebok sales declined 25% on a currency-neutral basis, largely as a result of the non-recurrence of prior-year licence sales as well as negative impacts from Reebok India Company. Currency translation effects had a positive impact on sales in euro terms. Group revenues grew 11% to ?4.173 billion in the third quarter of 2012 from ?3.744 billion in 2011.
The Group's gross margin increased 0.3 percentage points to 47.4% (2011: 47.1%) in the third quarter as product price increases, a more favourable product and regional sales mix as well as a larger share of higher-margin Retail sales more than offset the increase in input costs. Group gross profit increased 12% to ?1.978 billion (2011: ?1.762 billion). Other operating expenses as a percentage of sales grew 0.7 percentage points to 37.0% compared to 36.3% in the prior year, mainly as a result of an increase in the Group's marketing expenditure to support this year's major sporting events.
As a result of the higher gross margin and other operating income, which more than offset the increase in other operating expenses as a percentage of sales, the Group's operating margin grew 0.1pp to 11.8%. Operating profit increased 12% to ?494 million compared to ?441 million in 2011. The Group's net income attributable to shareholders grew 14% to ?344 million (2011: ?303 million). Diluted earnings per share for the third quarter increased 14% to ?1.64 (2011: ?1.45).
"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," commented 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."
Herbert Hainer stated: "Our results this year prove that Route 2015 is a powerful and robust strategic business plan. We are fully prepared and ready to continue in the same direction and with the same determination in 2013 as we stay focused, simplify to the maximum and implement with excellence. We have a full pipeline of game-changing product innovation and fresh brand activation that will shake up the market and yield one result - significant market share gains for our Group. And with it, we will grow our top line, improve our operating margin to around 9%, and deliver another year of significant double-digit earnings growth."
附件下载：
Click here to read more details:
免责声明：浙江网盛生意宝股份有限公司对中国纺织网上刊登之所有信息不声明或保证其内容之正确性或可靠性；您于此接受并承认信赖任何信息所生之风险应自行承担。浙江网