Turnover: Nike increases while Adidas loses
Adidas had to suffer an 11 %
turnover decrease in the second quarter in Western Europe, while North
America dropped 2 %. Nike however saw its turnover increase in its first quarter, 8 %
in Western Europe and 9 % in North America. Adidas had already sent out a
profit warning last month, due to problematic exchange rates, lower golf sales
and German distribution issues.
Adidas’ US management will be merged
with Reebok’s into Adidas Group North America, led by Patrik Nillson, who is already at the head of Adidas North America. Reebok’s CEO, Uli
Becker, will be leaving the company. “This
new set-up will make our group stronger and grow our business faster in the U.S.”, CEO Herbert Hainer stated.
The European department will also be brought back into one group as all
Western European countries will be considered to be one large region. “Consumer
behaviour is changing fast in Europe: country
borders are becoming less relevant for our consumers and customers”, Hainer
said. Gil Steyaert, currently managing director of the North region, will
become the new leader of the Western European structure.
(Translated by Gary Peeters)
