Footwear giant Adidas posted strong second quarter results for 2016.
Adidas Group currency-neutral sales increased 21 percent in the second quarter of 2016. From a brand perspective, the Adidas brand grew 25 percent on a currency-neutral basis, with a 32 percent gain in North America. Reebok revenues increased 7 percent during the quarter, with double-digit growth in Western Europe, Greater China, Russia/CIS and Japan. Revenues at TaylorMade-Adidas Golf grew 7 percent.
In light of the strong brand momentum and the outstanding financial performance in the first half of 2016, the Group has increased its 2016 financial outlook. Sales are expected to increase at a rate in the high teens on a currency-neutral basis in 2016. The top-line development will be supported by double-digit growth in all regions except Russia/CIS, where sales are now forecasted to grow at a mid-single-digit rate.
“We are putting the consumer at the heart of everything we do. We inspire them with unique experiences. We engage with them through marketing initiatives unheard of before. And we excite them with the most innovative and stylish products. As a result, the desirability of our brands and products is greater than ever before,” commented Herbert Hainer, Adidas Group CEO. “This is fueling the outstanding momentum we are enjoying across all regions and categories. And this will continue! It is the perfect platform to drive sustainable top- and bottom-line improvements for the years to come.”