Reebok 2014 Annual Report Download - page 145

Group Management Report – Financial Review
141
2014
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03.3
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adidas Group
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2014 Annual Report
Business Performance by Segment
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Retail Business Performance
Retail development by store format
Concept store revenues include sales from adidas and Reebok concept stores. In 2014, concept
store revenues grew 20% on a currency-neutral basis, as a result of double-digit increases at both
adidas and Reebok. Currency-neutral comparable concept store sales were up 12%. In 2014, the
Group opened 251 new concept stores, 166 concept stores were closed. As a result, the number of
concept stores increased by 85 to 1,746 at the end of 2014 (December 31, 2013: 1,661), of which 1,409
were related to the adidas brand and 337 to the Reebok brand. Currency translation effects had a
negative impact on sales in euro terms. Concept store sales increased 7% to € 1.686 billion in 2014
from € 1.573 billion in 2013.
Factory outlet revenues include sales from adidas and Reebok factory outlets. In 2014, factory outlet
revenues grew 13% on a currency-neutral basis. Sales increased at a double-digit rate at adidas,
while Reebok sales grew at a low-single-digit rate. Comparable factory outlet sales increased 5%
on a currency-neutral basis. In 2014, the Group opened 126 and closed 54 factory outlets. As a
result, the number of factory outlets increased by 72 to 851 at the end of 2014 (December 31,
2013: 779). Currency translation effects had a negative impact on sales in euro terms. Factory
outlet sales increased 6% to € 1.602 billion in 2014 from € 1.507 billion in 2013.
Concession corner revenues include adidas and Reebok concession corners. In 2014, sales from
concession corners increased 17% on a currency-neutral basis. While adidas sales grew at a double-
digit rate, revenues at Reebok increased at a mid-single-digit rate. Currency-neutral comparable
sales from concession corners grew 13%. In 2014, the Group opened 32 concession corners and
see Table 16
see Table 16
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Retail net sales by store format
1
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44% Concept stores
2
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42% Factory outlets
3
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11% eCommerce
4
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3% Concession corners
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Retail net sales by region
1
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33% European Emerging Markets
2
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19% North America
3
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18% Western Europe
4
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12% Other Asian Markets
5
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11% Latin America
6
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7% Greater China
2014 1
2
3 4
2014
6
5
1
2
3
4
12
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Retail net sales by quarter (€ in millions)
Q4 2014 1,043
Q4 2013 934
Q3 2014 1,047
Q3 2013 923
Q2 2014 958
Q2 2013 867
Q1 2014 794
Q1 2013 722
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Retail gross margin by quarter (in %)
Q4 2014 59.2
Q4 2013 61.0
Q3 2014 58.1
Q3 2013 61.5
Q2 2014 60.5
Q2 2013 65.4
Q1 2014 59.9
Q1 2013 60.7