PARIS — Adidas AG ratcheted down its 2012 sales forecast as swift growth in emerging markets and momentum at the Adidas brand failed to compensate for sluggishness in the U.S. and Western Europe and steep declines at Reebok.
Adidas now expects group sales to grow at a high-single-digit rate in 2012 versus a previous target of “approaching 10 percent.”
Revenues advanced 11.5 percent to 4.17 billion euros, or $5.22 billion, in the three months to Sept. 30.
Dollar figures are converted at average exchange rates for the periods to which they refer.
In the quarter, sales at Adidas advanced 10 percent, stripping out the impact of currency, whereas Reebok saw revenues drop 25.3 percent, partly due to the nonrecurrence of licensed sales in the year-ago quarter and a negative impact of Reebok’s operations in India.
By region, revenues in currency-neutral terms advanced 1.1 percent in Western Europe versus 18.6 percent in emerging markets on the Continent. Sales grew 15.7 percent in Latin America and 10.5 percent in Greater China, but they shrank 4.7 percent in North America, mostly due to Reebok.
During a conference call, Adidas chief executive officer Herbert Hainer allowed that the Reebok results were “by no means satisfactory.” Setbacks also included a calming of the toning phenomenon. Still, he trumpeted signs of recovery for the brand, including an 11 percent bump in same-store sales in the third quarter.
“We will bring Reebok back to growth in 2013,” he said, reiterating that a focus on fitness and training is the “right positioning” for the brand.
Hainer also asserted Adidas would “shake up the entire running market” with a product introduction slated for March. The brand also has a tie-up with Justin Bieber for its Neo sports lifestyle line, he added.
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion
Eighty degree temperatures and outdoor installations at the annual Art Basel Miami Beach called for bright, elevated beachwear. See more street style pictures on WWD.com. #theyarewearing #ABMB (📷: @lifeinreverie)
Following September’s emotional tribute to her brother Gianni, Donatella Versace wanted to bring the spring show’s deep sense of intimacy to her @versace_official pre-fall collection. Donatella found inspiration in Versace Palazzo in Milan and from Gianni’s opulent apartment. Archival patterns and new motifs were splashed on silk shirtdresses and fitted jersey frocks. See the rest of the photos on WWD.com. #wwdfashion
Demna Gvasalia continues to shake up the Paris fashion calendar — and experiment with new runway timetables for his @vetements_official brand. WWD has learned that Vetements plans to stage its next coed show for the fall 2018 season on January 19 during Men’s Fashion Week in the French capital. Details about the timing and venue have not been confirmed — stay tuned on WWD.com to catch the latest. #wwdnews (📷: @giovanni_giannoni_photo)
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)