In the fourth quarter, sales went up by 11 percent in constant currencies, including increases of 14 percent for the Adidas brand, 19 percent for total sales in North America and 11 percent for retail sales on the basis of comparable stores. Sales in Western Europe went up by 13 percent, driven by the Adidas brand. Net income increased for the year by 15 percent to €927 million, and it is almost certain to pass the €1 billion hurdle in 2012. The board is proposing a 25 percent increase in dividends as sales are expected to growth by a mid- to high single digit, while the operating margin should improve further, approaching a level of 8.0 percent. In 2011, the operating margin grew by 0.1 percentage point to 7.6 percent. The group intends to continue to invest in the Reebok brand’s growth in fitness and in key markets such as North America, Russia and Greater China. More in the next SGI Europe, including details from the company’s conference call with financial analysts.

(7/3/2012)