|Market Research A to Z | Company Profiles A to Z | Register | Contact Us | Shopping Basket|
|+44 (0) 203 086 8600 Call us on|
Adidas, the world's second largest sportswear maker, has reported a loss for the last three months of 2012, mainly owing to impairment charges relating to its Reebok brand.
The group reported a fourth quarter operating loss of 239m euros ($311m; £207m), after it adjusted assumptions about the rate of growth at Reebok.
Adidas shares rose after Thursday's announcement, trading 3.7 percent higher at €74.32 in morning trading in Europe.
Despite Reebok's woes, Adidas' chief executive Herbert Hainer, said the company had performed well: "2012 has been another successful year for the Adidas group."
Reebok's poor performance has been largely in the Americas, including North America, Brazil and Latin America.
Reebok has struggled to recover from an ill-fated push into shoes designed to improve muscle tone as you walk. It has also been hurt by fraud at its Indian unit, the loss of an American football contract, and a lockout at the National Hockey League (NHL) in the United States that almost wiped out the season.
Adidas, which bought Reebok in 2005 for $3.8 billion to try to close the gap with market leader Nike is now trying to reposition it in the fitness sphere, providing clothes and shoes for a range of activities from aerobics to yoga and dance.
Reebok saw sales fall 12 percent in the fourth quarter to 428 million euros ($556.4 million), Adidas said on Thursday, while sales at the hockey unit - Reebok-CCM Hockey - dropped 18 percent due to the NHL lockout.
For 2013, Adidas said it expects sales to increase at mid-single-digit rate in 2013 from 2012's record level of 14.9 billion euros, though with a slower start to the year.
Follow us on Twitter @CandMResearch
Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support
Use our skills and global network of researchers and consultants to help find and source the business information you need.
Contact us now on 00 44 (0) 203 0868600 or "enquiries @ companiesandmarkets.com" to discuss you requirements and we can provide you with a research solution at suprisingly efficient rates and timelines.
Sometimes we can even find the information you require for free.
We are offering our clients substantial savings on the best research available during July. Please contact us either via email or by calling our team to discuss your specific research needs on Tel: 00 44 (0) 203 0868600.