Reebok 2015 Annual Report Download - page 116

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112
3
GROUP MANAGEMENT REPORT – FINANCIAL REVIEW
Group Business Performance – Income Statement
GROUP SALES UP IN FOOTWEAR ANDAPPAREL
In 2015, currency-neutral footwear sales grew 19%, mainly due to double-digit increases in the football
category as well as at adidas Originals and adidas neo. In addition, mid-single-digit growth in running
contributed to this development. Apparel revenues grew 5% on a currency-neutral basis. This development
was supported by double-digit growth at adidas Originals and adidas neo as well as high-single-digit growth
in the running category and mid-single-digit growth in the training category. Currency-neutral hardware
sales were down 8% compared to the prior year, as a result of declines at TaylorMade-adidas Golf.
CURRENCY-NEUTRAL SALES GROW IN MOST MARKETSEGMENTS
In 2015, on a currency-neutral basis the combined sales of the adidas and Reebok brands grew in most
market segments. Revenues in Western Europe increased 17% on a currency-neutral basis, driven by
double-digit sales growth in the UK, Italy, France and Spain. Currency-neutral sales in North America
increased 5%. Revenues in Greater China grew 18% on a currency-neutral basis, while currency-neutral
sales in Russia/CIS declined 11%. In Latin America, revenues grew 12% on a currency-neutral basis, driven
by double-digit growth in Argentina, Mexico, Chile, Peru and Colombia. In Japan, sales remained stable on
a currency-neutral basis. Revenues in MEAA grew 14% on a currency-neutral basis, driven by double-digit
growth in South Korea, the United Arab Emirates, Turkey, Israel and Australia.
Revenues in Other Businesses were down 3% on a currency-neutral basis. High-single-digit sales increases
at Reebok-CCM Hockey and double-digit sales increases in Other centrally managed businesses were more
than offset by sales declines at TaylorMade-adidas Golf.
With the exception of Russia/CIS and Latin America, currency translation effects had a positive impact on
segmental sales in euro terms.
see Table 09
09NETSALES BY PRODUCTCATEGORY€ IN MILLIONS
2015 2014 Change Change
(currency-neutral)
Footwear 8,360 6,658 26% 19%
Apparel 6,970 6,279 11% 5%
Hardware 1,585 1,597 (1%) (8%)
Total 116,915 14,534 16% 10%
1 Rounding differences may arise in totals.
10NETSALES BY PRODUCTCATEGORY
49%
41%
9%
Footwear
Apparel
Hardware
49
41
9