.On a currency-neutral basis, wholesale revenues were up 10% in the third quarter, while retail sales surged up 21% .
.The latter helped to offset increases in input costs, but was not
sufficient to stop a slight decrease in gross margins, down three
percentage points to 47.1%, despite a more favorable sales mix .
.Double-digit growth at Adidas and TaylorMade-Adidas Golf helped
Europe to record a 10% revenue increase, while growth for Reebok and
Adidas led to a 22% revenue hike for European emerging markets .
.North America and China both recorded 13% revenue increases, the
latter boosted by double-digit sales gains at Adidas Sport Style.
Meanwhile, other Asian markets were up 7% and Latin America’s sales
surged up 18% .
.“Our record third quarter results were driven by growth in all key
geographies, brands and channels,” said Herbert Hainer, Adidas group
.“We will finish 2011 clearly exceeding our initial expectations after
already surpassing our 2008 record earnings mark after the first nine
months.” .
.Separately, the company said it is buying outdoor “a href=”http://www.just-style.com/news/adidas-pays-us25m-to-acquire-five-ten_id112645.aspx”>action sports business Five Ten for $25 million”/a>, as part of plans to expand its outdoor segment .


Source:Al Ahram Online Newspaper