Sales for Adidas Group, the world’s second-largest sporting goods maker, declined 7% in currency-neutral terms during the third quarter of 2009, with revenue for Adidas falling 6%, as growth in the Sport Style division could not offset declines in major sports categories in the Sport Performance division. Revenue in the Reebok segment fell 12% across all divisions from the previous year, while revenue for the TaylorMade Adidas Golf segment fell 12%.

In euro terms group revenues decreased 6% to €2.888 billion. Group gross margin slipped 3.7% to 45.3% from a year ago on higher clearance sales, input costs and currency exchange, particularly related to the Russian ruble, while group gross profit fell 14% to €1.307 billion. Operating profit fell 29% to €336 million. Net income fell 30% to €213 million, or €1.03.

“This year, our industry and our group have faced unprecedented challenges. However, we have tackled the challenges head-on,” said Herbert Hainer, Adidas Group CEO. “We have successfully adapted to our difficult surroundings. And our drive for operational excellence has meant we have strongly improved our financial position generating almost €740 million in net cash from operations over the last six months.”

For the first nine months of 2009, group sales in currency-neutral terms declined in all regions except Latin America, where sales grew 19%, aided by double-digit increases in most major markets and new Reebok companies in Brazil/Paraguay and Argentina. By contrast, group sales decreased 8% in Europe, 11% in North America, and 9% in Asia.

In euro terms, group sales decreased 9% to €3.442 billion in Europe and 3% to €1.822 billion in North America. They grew 1% to €1.894 billion in Asia and 10% to €713 million in Latin America.

—Melanie Gropler