adidas Group has reported that currency-neutral sales grew 7% in the second quarter of 2012. This was driven by double-digit sales increases in the group’s Retail and Other Businesses divisions.
Currency-neutral revenues in Western Europe increased 5%. In European Emerging Markets, currency-neutral sales grew 18% as a result of strong increases at both adidas and Reebok. Group sales in North America grew 10% on a currency-neutral basis. In Greater China, sales were up 13% on a currency-neutral basis, driven by double-digit growth at adidas as well as growth at Reebok.
Currency-neutral revenues in Other Asian Markets increased 2%. In Latin America, currency-neutral sales decreased 2% as growth at adidas was offset by a sales decrease at Reebok.
“We have delivered another winning financial performance in the first half of 2012,” commented Herbert Hainer, adidas Group CEO. “Our clear victory in the summer of football, our increased operating margin and our excellent inventory management show we have the right formula to preserve and sustain our positive earnings and cash flow trajectory.“
The strong first half of 2012 has set the adidas Group up for another year of record financial results. Management continues to forecast adidas Group sales to increase at a rate approaching 10% on a currency-neutral basis for the full year of 2012.