Strictly Business: adidas On The Come Up In North America

(source: PBJ)

adidas may have hit a turning point in North America.

The German sportswear company has been struggling to keep pace in the U.S., the world's biggest sportswear market. But quarterly financial data released Tuesday show the company had a 7 percent increase to $661 million in North American sales in the first quarter, after adjustments for currency rates.
That's a big improvement from the 6 percent decline in North American sales the company reported in 2014.
The company attributed the strong first quarter to high-single-digit growth at Adidas. Sales at the company's Reebok subsidiary increased 9 percent.
The company's TaylorMade golf division continued to drag top-line North American sales. Golf sales were down 9 percent.

"We got off to a successful start to the year with our Adidas and Reebok brands enjoying great momentum," said CEO Herbert Hainer, in a news release. "With our innovative performance products, fashion-driven styles and highly engaging marketing campaigns, we have excited our consumers around the world."
The company has revamped its North American strategy under Mark King, who has named president of the region in mid-2014. King works out of the company's North American headquarters in Portland.
Under his leadership, the company has ramped up its marketing and design efforts, signed more professional athletes and moved several key executives to Portland.