Adidas Latin American Business Grows

In the fourth quarter of 2009, the adidas Group changed its organisational structure to increase its responsiveness to consumer needs and to support sustainable long-term growth. As a consequence of the subsequent changes in internal reporting and in accordance with the new IFRS 8, the adidas Group has now divided its operating activities into six segments: Wholesale, Retail, TaylorMade-adidas Golf, Rockport, Reebok-CCM Hockey and Other Centrally Managed Brands. The results of the adidas and Reebok brands are now combined under Wholesale and Retail.

Sales in North America decreased 6% to € 2.360 billion from € 2.520 billion in 2008. Revenues in Greater China decreased 10% to € 967 million in 2009 from € 1.077 billion in 2008. In Other Asian Markets, sales increased 4% to € 1.647 billion versus € 1.585 billion in the prior year. Revenues in Latin America grew 13% to € 1.006 billion from € 893 million in the prior year.

Following the elimination of regional headquarters, the Group distinguishes seventeen markets which are aggregated into six geographies: Western Europe, European Emerging Markets, North America, Greater China, Other Asian Markets and Latin America.

Currency-neutral sales decrease in nearly all regions:

Currency-neutral adidas Group sales declined in all regions except Latin America in 2009. Revenues in Western Europe declined 5% primarily as a result of lower sales in France and Iberia. In European Emerging Markets, Group sales decreased 7% on a currency-neutral basis, primarily due to declines in Russia as a result of the devaluation of the Russian rouble against the functional currency, the US dollar, which could not be offset by price increases. Sales for the adidas Group in North America decreased 10% on a currency-neutral basis due to declines in the USA and Canada. Sales in Greater China decreased 16% on a currency-neutral basis. Revenues in Other Asian Markets declined 3% primarily as a result of decreases in Japan. In Latin America, sales grew 19% on a currency-neutral basis, with double-digit increases in most of the region’s major markets, also supported by the consolidation of new companies in the region.
 


Trackback from your site.

Editorial Staff @portada_online

Portada Staff

MORE FROM PORTADA

Amazon, Wal-Mart Drawing the Largest Numbers of Online Hispanic Shoppers in US

Amazon, Wal-Mart Drawing the Largest Numbers of Online Hispanic Shoppers in US

We looked at the top 15 online retail sites visited by Hispanic shoppers in the US and how they scored in number of visitors in May 2018.


Dentsu Aegis Network Acquires Agency Global Mind

Dentsu Aegis Network Acquires Agency Global Mind

This is the third Latin American acquisition this year after the Japanese giant acquired M8 and White Label in April. Global Mind will triple the headcount of iProspect and strengthen Dentsu Aegis' pan-regional reach. 


4 Truths and One Lie About Multicultural Marketing According to Mel Rodriguez & Co, Starcom, Walton Isaacson…

4 Truths and One Lie About Multicultural Marketing According to Mel Rodriguez & Co, Starcom, Walton Isaacson…

We talked to Melissa Rodriguez, Dana Bonkowski, Albert Thompson, and Teylez Perez about the future of brands in an increasingly multicultural world. Reports estimate that by 2065 Hispanics will account for one-quarter of U.S. population. Brands should be aware of this opportunity and find appropriate communication strategies.