Adidas sales in Russia / CIS in the first quarter of 2018, taking into account exchange rate fluctuations, decreased by 25,5%, excluding exchange rate fluctuations - by 16,4%, to 119 million euros, writes the Retail News Agency, citing a company representative. ...
“Adidas has all geographical segments growing, with the exception of Russia / CIS, where sales are falling,” the company representative explained. The region accounts for about 18% of the company's total revenue (based on 2017 results).
At the end of 2017, Adidas sales in the Russia and the CIS region decreased, taking into account exchange rate fluctuations, by 3%, to 660 million euros.
The company continues to reduce branded retail in the region. In 2017, the brand closed about 160 stores, reducing retail sales in Russia and the CIS to 600 stores. As representatives of the brand have repeatedly stated, the active reduction in stores in Russia and the CIS is primarily associated with a decrease in demand and, as a result, a drop in sales in the region.
At the same time as we wrote earlier, the sports giant pursues a policy of reducing the number of stores around the world in order to focus on the development of online sales.