Reebok 2013 Annual Report Download - page 151

adidas Group
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2013 Annual Report
Group Management Report – Financial Review
147
2013
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03.3
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Business Performance by Segment
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Retail Business Performance
period, mainly due to double-digit growth in the training, running and
basketball categories. adidas Originals & Sport Style sales rose 12% on a
currency-neutral basis, driven by double-digit sales increases at adidas
Originals. Currency-neutral Reebok sales were 3% higher compared to
the prior year. Comparable store sales for the adidas brand remained
stable on a currency-neutral basis, while Reebok comparable store
sales were down 3% on a currency-neutral basis. Currency translation
effects had a negative impact on revenues in euro terms. adidas Sport
Performance own-retail sales increased 1% to € 1.868 billion from
€ 1.848 billion in 2012. adidas Originals & Sport Style own-retail sales
were up 6% to € 1.020 billion from € 958 million in 2012. Own-retail
sales of Reebok branded products declined 2% to € 549 million (2012:
€ 558 million).
Retail store development
At December 31, 2013, the adidas Group Retail segment operated 2,740
stores. This represents a net increase of 294 stores or 12% versus the
prior year-end level of 2,446. Of the total number of stores, 1,557 were
adidas and 404 were Reebok branded (December 31, 2012: 1,353 adidas
stores, 363 Reebok stores). In addition, the adidas Group Retail segment
operated 779 factory outlets (December 31, 2012: 730). During 2013, the
Group opened 534 new stores, 240 stores were closed and 127 stores
were remodelled.
11
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Retail net sales by store format
1
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46% Concept stores
2
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44% Factory outlets
3
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7% eCommerce
4
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3% Concession corners
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Retail net sales by region
1
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38% European Emerging Markets
2
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18% North America
3
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16% Western Europe
4
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12% Other Asian Markets
5
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10% Latin America
6
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6% Greater China
2013 1
2
3 4
2013
6
5
1
2
3
4
Retail development by store format
Concept store revenues include sales from adidas Sport Performance,
adidas Originals & Sport Style and Reebok concept stores. In 2013,
concept store revenues grew 6% on a currency-neutral basis. Sales
increased at mid-single-digit rates at both adidas and Reebok. Currency-
neutral comparable concept store sales were down 2%. In 2013, the
Group opened 349 new concept stores, 125 concept stores were closed.
As a result, the number of concept stores increased by 224 to 1,661 at the
end of 2013 (2012: 1,437), of which 1,357 were related to the adidas brand
and 304 to the Reebok brand
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TABLE 16. Currency translation effects had
a negative impact on sales in euro terms. Concept store sales remained
stable at € 1.573 billion from € 1.575 billion in 2012.
12
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Retail net sales by quarter (€ in millions)
Q4 2013 934
Q4 2012 882
Q3 2013 923
Q3 2012 944
Q2 2013 867
Q2 2012 854
Q1 2013 722
Q1 2012 693
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Retail gross margin by quarter (in %)
Q4 2013 61.0
Q4 2012 60.7
Q3 2013 61.5
Q3 2012 59.0
Q2 2013 65.4
Q2 2012 62.8
Q1 2013 60.7
Q1 2012 61.5
14
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Retail segmental operating profit by quarter
(€ in millions)
Q4 2013 166
Q4 2012 186
Q3 2013 195
Q3 2012 206
Q2 2013 216
Q2 2012 217
Q1 2013 101
Q1 2012 115