Adidas 2002 Annual Report Download - page 65

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63
NORTH AMERICAN SALES RISE TO € 2.0 BILLION /// In North
America, sales for the Group grew 8% to € 2.0 billion in 2002
versus € 1.8 billion in the prior year. On a currency-neutral
basis, this represents a 14% increase. Sales at TaylorMade-
adidas Golf increased most significantly, up 32% (+39%
currency-neutral). In addition to the very strong reception of
the R500 Series drivers in the second half of the year, sales
were helped by the first-time inclusion of the Maxfli and
Slazenger Golf brands. At brand adidas, sales grew 4% (+10%
currency-neutral) from € 1.3 billion in 2001 to € 1.4 billion in
2002. This confirms the turnaround of adidas America, where
sales growth was positive for the first time in four years.
Salomon sales declined 4% from € 208 million in 2001 to
€ 199 million in 2002. This decline, however, was a result of
the negative currency development. Currency-neutral sales
grew 2%, reflecting the strength of Mavic products in the
region as well as new Arc’Teryx sales.
GROUP BUSINESS PERFORMANCE
adidas-Salomon SALES REACH RECORD LEVEL OF € 6.5
BILLION /// Consolidated net sales for the Group grew 7%
from € 6.1 billion in 2001 to reach € 6.5 billion in 2002.
Excluding first-time sales from Arc’Teryx, Maxfli and
Slazenger Golf, Group sales grew 5% from € 6.1 billion in
2001 to € 6.4 billion in 2002. This is the highest level in the
Group’s history and the eighth year of continued growth since
going public in 1995 and exceeds the Group’s 3 to 5%
sales
growth target range for 2002. On a currency-neutral basis,
Group
sales increased 11%.
BRAND GROWTH LED BY TAYLORMADE-adidas GOLF,
WHERE SALES CLIMB 30% /// From a brand perspective,
TaylorMade-adidas Golf again posted the most substantial
gains, with sales up 30% (+37% currency-neutral) from
€ 545 million in 2001 to € 707 million in 2002. This reflects
the strength of new product introductions, in particular the
R500 Series drivers, as well as the first-time inclusion of
Maxfli and Slazenger Golf revenues. adidas sales grew 6%
(+10% currency-neutral) from € 4.8 billion to € 5.1 billion.
Drivers of this growth were new Sport Performance footwear
technologies ClimaCool®and a3® , basketball category sales
which grew nearly 50% year-over-year as well as continued
double-digit growth in the Sport Heritage division. Salomon
sales declined 4% (–1% currency-neutral) from € 714 million
to € 684 million mainly as a result of poor winter conditions
and weak inline skate sales.
NET SALES GROWTH BY BRAND AND REGION1) in %
Europe North Asia Latin Total
America America
adidas 4 4 20 (9) 6
Salomon 3 (4) (25) (14) (4)
TaylorMade-adidas Golf 34 32 24 – 30
Total 4 8 16 (9 ) 7
1) Versus the prior year
CURRENCY-NEUTRAL NET SALES GROWTH BY BRAND AND REGION1) in %
Europe North Asia Latin Total
America America
adidas 4 10 26 31 10
Salomon 3 2 (18) 45 (1)
TaylorMade-adidas Golf 35 39 32 – 37
Total 5 14 23 31 11
1) Versus the prior year
adidas /// CLIMACOOL®2
ADVENTURE SHOE
NET SALES € in millions
1998 5,065
1999 5,354
2000 5,835
2001 6,112
2002 6,523