Adidas sales rise 12%

Adidas Group saw currency-neutral sales rise 12% to €5.1 billion (£4bn) for the first half, and 4% year-on-year in euro terms.

The Adidas brand reported a 16% rise in currency-neutral sales to €3.7bn (£2.9bn) for the first six months of the year but Reebok saw its currency-neutral sales fall back by 2% and sales in euro terms slip behind 11% to €923 million (£723m).

Group currency-neutral sales in Europe rose by 16% to €2.3 bn (£1.8bn). Group gross margin also reached a record level for the first half following a 2.5 percentage point uplift to 49.6%.

Adidas chairman and chief executive Herbert Hainer said: "We are proud to report a strong set of financial results for the first half of 2008. Our performance is nothing short of exceptional, particularly in light of the tougher macroeconomic environment. Adidas and TaylorMade-Adidas Golf continue to show strong momentum and we have laid the foundations at Reebok for continued improvement in the second half of the year."