Adidas Group Successfully Sells Rockport

The German sporting goods giant Adidas AG (ADS.DE) Adidas group announced that the joint venture between the private Holdings Company Berkshire Partners LLC and its rival New Balance Athletic Shoe Inc. agreed to buy us shoe brand brand for $280 million.

News stimulated Adidas AG (ADS.DE) shares rose by 4.3% on Friday.

Last May, Adidas AG (ADS.DE) Adidas group sought news of the sale of Rockport, when news sources expected that it could sell for $300 million.

The new joint venture will also be incorporated into New Balance Athletic Shoe Inc.'s Drydock business with Aravon, Dunham and Cobb Hill.

Rockport was founded in 1971 and was purchased by Reebok International Ltd. Reebok, the US sports brand in 1986. It was followed by Reebok International Ltd Reebok, which was annexed by Adidas AG (ADS.DE) Adidas for about $4 billion in 2006, and became the assets of the Adidas group (Adidas) Adidas group.

Up to now, Rockport has entered more than 55 markets worldwide, with an average annual EBITDA (profit before interest tax depreciation and amortization) of $3000-4000.

Adidas AG (ADS.DE)

Group CEO

In yesterday's announcement, Rockport pointed out that it has been doing well in the past, but this category is not in line with the core strategy of the group.

After releasing Rockport, the group will be able to concentrate on developing flagship brand Adidas Adidas, Reebok Reebok and Reebok's deep and difficult golf business, and catch up with the widening gap between the Nike Inc. (NYSE:NIKE) Nike group, the world's largest sporting goods producer from the United States.

The group also announced yesterday that on the basis of unaudited preliminary data, the annual revenue and earnings in 2014 have reached the target of downgrading.

Skim

After the impact of business and exchange rate, the Group recorded a 6% increase in revenue in 2014, which is in line with the goal of "medium to high single digit growth".

In Euro terms, revenue rose 2% to 14 billion 800 million euros, up 14 billion 680 million euros from market expectations, and 14 billion 500 million euros in 2013.

All sales channels contribute to revenue growth, of which retail business has double-digit growth.

Excluding the exchange rate effect, Adidas Adidas brand revenue increased by 11%, Reebok increased by 5%.

Fourth quarter group has achieved double-digit growth in Western Europe, Greater China, European emerging markets and Latin America.

The net profit of the year was affected by the loss of goodwill caused by the rouble depreciation (80 million euros) and the impact of the Rockport sale. After excluding these factors, the net profit also reached the target of 650 million euros.

The full 2014 earnings report will be released in March 5th.

At the time when no fashion Chinese net was written, the Adidas AG (ADS.DE) midday increase narrowed to 3.51%, at 60.39 euros.