Adidas grows, Reebok stays behindMonday, 10 March 2008
The Adidas Group reached a profit of 14%, GBP 394,52 million over fiscal year 2007. Over the same period of time, Reebok's gains dropped with 5%. In 2007 the Group’s benefits went up with 2% to GBP 7,38 billion. The increase is fairly large, especially considering the fact the World Cup in 2006 stimulated the sales and no large sports events took place in 2007. The US sports market was a difficult battle for Reebok and its results dropped with 2%. The label lost market to competitor Nike and the bad economic situation of the US.
CEO Herbert Hainer is very positive towards 2008, especially with the UEFA Cup and Olympics coming up. It remains a hard game for Reebok, also because its orders went down with 14%. The Adidas Group is keeping up the good spirit and promised improvements. To support this promise Director Paul Harrington, has been replaced by Uli Becker, previously Marketing Director.