GROUP GROSS MARGIN INCREASES 2.4 PERCENTAGE POINTS
The gross margin of the adidas Group increased 2.4 percentage points to 50.1% in the first quarter of 2013 (2012: 47.7%). The positive impact from a more favourable pricing, product and regional sales mix as well as a larger share of higher-margin Retail sales contributed to this development. Gross profit for the adidas Group grew 3% in the first quarter of 2013 to € 1.881 billion versus € 1.826 billion in the prior year.
OPERATING MARGIN IMPROVES 1.1 PERCENTAGE POINTS
Group operating profit increased 8% to € 442 million in the first quarter of 2013 versus € 409 million in 2012. As a result, the operating margin of the adidas Group improved 1.1 percentage points to 11.8% (2012: 10.7%). This was primarily due to the positive effects from the increase in gross margin, which more than offset higher other operating expenses as a percentage of sales. Other operating expenses as a percentage of sales rose 1.2 percentage points to 39.5% in the first quarter of 2013 from 38.4% in 2012. In euro terms, other operating expenses increased 1% to € 1.482 billion (2012: € 1.467 billion), as a result of higher marketing expenditure as well as the expansion of the Group’s own-retail activities. Thereof, sales