During the first six months of 2007, adidas Group revenues increased 6% on a currency-neutral basis. In euro terms, Group revenues grew 1% to 4.938 billion euros in the first half of 2007 from 4.887 billion in 2006. Sales of the adidas Group grew in all regions except North America, where sales decreased 10% to 1.429 billion euros from 1.592 billion euros the previous year. In Latin America, currency-neutral sales increased 36% in the first half of the year.

Sales at Reebok, which was purchased by adidas Group in January 2006, decreased 1% to 1.038 billion euros versus 1.050 billion euros in the year prior. Backlogs for the Reebok brand at the end of the second quarter of 2007 were stable versus the prior year on a currency-neutral basis. In euro terms, this represents a decline of 3%. Footwear backlogs declined 17% in currency-neutral terms (–20% in euros) primarily as a result of lower footwear orders from mall-based retailers in North America in several categories such as Classics and basketball.

As adidas AG Chairman and CEO Herbert Hainer explained: “Ongoing strength in key performance categories has driven solid top-line growth at adidas. We have made important investments at Reebok as we continue to implement our strategies to bring the brand back to the top of its game.”

—Regina Henkel