Reebok 2008 Annual Report Download - page 126
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122 Group Management Report – Our Financial Year Subsequent Events and Outlook
adidas order backlogs (currency-neutral) 1)
Development by product category and region in %
Europe
North
America Asia Total
Footwear (3) 4 (11) (4)
Apparel (4) (5) (8) (6)
Total 2) (5) 0 (10) (6)
1) At year-end, change year-over-year.
2) Includes hardware backlogs.
adidas order backlogs (in €) 1)
Development by product category and region in %
Europe
North
America Asia Total
Footwear (7) 8 (1) (2)
Apparel (9) (1) 4 (4)
Total 2) (9) 4 1 (4)
1) At year-end, change year-over-year.
2) Includes hardware backlogs.
adidas backlogs decrease 6% currency-neutral
Backlogs for the adidas brand at the end of 2008 decreased
6% versus the prior year on a currency-neutral basis. In euro
terms, adidas backlogs declined 4%. This development refl ects
the diffi cult retail environment in many major markets. In
addition, order backlogs in Europe were negatively impacted
by the non-recurrence of strong prior year orders for foot-
ball products supported by the UEFA EURO 2008™. Differ-
ences in order timing had a negative effect on the develop-
ment of backlogs in Asia. Footwear backlogs decreased 4%
in currency-neutral terms (– 2% in euros). Growth in North
America could not offset declines in Europe and Asia. Apparel
backlogs decreased 6% on a currency-neutral basis (– 4% in
euros) with declines in all regions. Backlogs do not include the
segment’s own-retail business. We also expect the share of
at-once business in the adidas sales mix to grow as a result
of increasing uncertainty among retailers regarding future
market development. As a result, order backlogs are no longer
a reliable indicator for expected sales development.
Brand adidas sales to decline in 2009
We project a low- to mid-single-digit sales decline on a
currency-neutral basis for brand adidas in 2009. Revenues
in both the adidas Sport Performance and adidas Sport
Style divisions are forecasted to decrease. In the Sport
Perfor mance division, revenues in the football category in
particular are forecasted to decline as a result of the non-
recurrence of strong sales in connection with the UEFA
EURO 2008™. Sport Style sales are expected to be negatively
affected by challenging market conditions in many major
markets. Incremental sales from the further segmentation
of the brand’s product range to effectively address specifi c
consumer groups are forecasted to partly offset this develop-
ment see adidas Strategy, p. 048.