Adidas Group’s sales increase 9 percent in Q1

In the first quarter of 2015, Adidas Group sales increase 9 per cent on a currency-neutral basis while revenues in euro terms grow 17 per cent to a first quarter record of € 4.1 billion while gross margin stable at 49.2 per cent. Enthusiastically there is double-digit growth in Western Europe, Greater China and MEAA.  Group revenues grew 17 per cent to € 4.083 billion in the first quarter of 2015 from € 3.480 billion in 2014. Herbert Hainer, CEO, Adidas Group said, “We got off to a successful start to the year with our Adidas and Reebok brands enjoying great momentum. With our innovative performance products, fashion-driven styles and highly engaging marketing campaigns, we have excited our consumers around the world.”

As a result of the change in the composition of the Group’s reportable segments and associated cash-generating units, respectively, the Group recorded goodwill impairment losses of € 18 million during the first three months ending March 31, 2015.