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Adidas bounces back

Adidas Group posted a 15% increase in sales for the last three months of 2015 to €4.16bn (£2.9bn) as its turnaround plans gain traction. 

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Kanye West YEEZY New York Fashion Week autumn 2015

Sales of the main Adidas brand were up 16%, and Reebok were up 5.4% for the year. However, sales at the group’s golfing arm, TaylorMade, fell 15%, as a result of an ongoing restructuring. 

For 2016, the group forecasts 10% to 12% sales growth, but gross profit decline of 1% because of rising production costs in China.

Sales of Adidas’s Yeezy Boost 350 trainer, a collaboration with musician Kanye West contributed to the boost in sales. Yeezy Boost 350 falls under the category of Originals, Adidas’s lifestyle segment. The company doesn’t break out the numbers for Originals from the rest of Adidas brand, but analysts said growth was there.

Herbert Hainer, Adidas Group chief executive said: “2015 was a very successful year for the Adidas Group. We reached all of our major financial goals and exceeded our initial top- and bottom-line targets. Our 2015 performance is a picture-perfect example of a successful comeback in sport. As a Group, today we are stronger and in better shape than ever before.”

 

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