Reebok 2015 Annual Report Download - page 117

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113
3
GROUP MANAGEMENT REPORT – FINANCIAL REVIEW
Group Business Performance – Income Statement
GROUP SALES DEVELOPMENTSUPPORTED BY DOUBLE-DIGITGROWTH IN RETAIL
In 2015, retail revenues increased 11% on a currency-neutral basis, mainly as a result of double-digit sales
growth at adidas. Reebok revenues increased at a low-single-digit rate. Concept stores and factory outlets
both grew at a high-single-digit rate versus the prior year. While concession corners were below the prior
year level, this decline reflects the reclassification of a number of concession corners to the wholesale
channel. eCommerce grew 42% on a currency-neutral basis. Currency translation effects had a minor
negative impact on retail revenues in euro terms. Sales grew 10% to € 4.221 billion from € 3.842 billion in
the prior year. Currency-neutral comparable store sales increased 3% versus the prior year, due to sales
growth in all markets, except Russia/CIS.
At December 31, 2015, the adidas Group, as part of the adidas and Reebok own-retail activities, operated
2,722 stores compared to the prior year-end level of 2,913. This mainly reflects the planned store closures
in Russia/CIS as well as the reclassification of a number of concession corners to the wholesale channel.
Of the total number of stores, 1,484 were adidas and 366 were Reebok branded (December 31, 2014:
1,616 adidas stores, 446 Reebok stores). In addition, the adidas Group operated 872 multi-branded adidas
and Reebok factory outlets (December 31, 2014: 851). During 2015, the Group opened 284 new stores,
321 stores were closed, 154 were reclassified and 113 stores were re-modelled.
see Table 11
11RETAIL NUMBER OF STORES DEVELOPMENT
Total Concept stores Factory outlets Concession corners
December 31, 2014 2,913 1,746 851 316
Opened 284 182 92 10
Closed 321 230 71 20
Opened (net) (37) (48) 21 (10)
Reclassified (154) – – (154)
December 31, 2015 2,722 1,698 872 152
12RETAIL NUMBER OF STORES BYSTORE FORMAT
2015 2014
Concept stores 1,698 1,746
Factory outlets 872 851
Concession corners 152 316
Total 2,722 2,913
■
2014
■
2015