- Intro
- To our Shareholders
- Group Management Report - Our Group
- Group Management Report - Financial Review
- Consolidated Financial Statements
- Responsibility Statement
- Auditor’s Report
- Consolidated Statement of Financial Position
- Consolidated Income Statement
- Consolidated Statement of Comprehensive Income
- Consolidated Statement of Changes in Equity
- Consolidated Statement of Cash Flows
- Notes
- 01 General
- 02 Summary of significant accounting policies
- 03 Acquisition/disposal of subsidiaries as well as assets and liabilities
- 04 Cash and cash equivalents
- 05 Short-term financial assets
- 06 Accounts receivable
- 07 Other current financial assets
- 08 Inventories
- 09 Other current assets
- 10 Assets/liabilities classified as held for sale
- 11 Property, plant and equipment
- 12 Goodwill
- 13 Trademarks and other intangible assets
- 14 Long-term financial assets
- 15 Other non-current financial assets
- 16 Other non-current assets
- 17 Borrowings and credit lines
- 18 Other current financial liabilities
- 19 Other provisions
- 20 Accrued liabilities
- 21 Other current liabilities
- 22 Other non-current financial liabilities
- 23 Pensions and similar obligations
- 24 Other non-current liabilities
- 25 Shareholders’ equity
- 26 Non-controlling interests
- 27 Leasing and service arrangements
- 28 Financial instruments
- 29 Other operating income
- 30 Other operating expenses
- 31 Cost by nature
- 32 Financial income/financial expenses
- 33 Income taxes
- 34 Earnings per share
- 35 Segmental information
- 36 Additional cash flow information
- 37 Commitments and contingencies
- 38 Equity compensation benefits
- 39 Related party disclosures
- 40 Other information
- 41 Information relating to the German Corporate Governance Code
- 42 Events after the balance sheet date
- Statement of Movements of Intangible and Tangible Assets
- Shareholdings
- Kampagne
- Additional Information
- Fit for the Future
Page 4 of 4
Expanding distribution scope
The sporting goods retail environment is changing constantly. People increasingly want to get involved with our brands. We therefore continue to adapt our distribution strategy to cater for this change and have made controlled space initiatives a strategic priority. This includes retail space management with key retail partners as well as the introduction of new own-retail store formats. For example in November 2010, the Reebok Reetone World opened its doors in Munich. In close cooperation with major retailers, Reebok offers alongside the popular toning shoe some exclusive pieces of the “On the Move” collection. Customers can also design and personalise their own Reebok shoes at the YourReebok station. In addition, in the run-up to the 2010/11 basketball season, adidas launched exclusive NBA shop-in-shops within several hundred Champs Sports locations throughout the USA. Through initiatives like these, we believe we will be able to more effectively target consumers and involve them emotionally with our products.
Cost optimisation drives profitability improvements
Continued optimisation of key business processes and strict cost control are vital to achieving high profitability and return on invested capital. We are confident that there is still significant opportunity to further streamline cost structures throughout our Group. For example, we believe we will be able to realise medium-term economies of scale as we look for possibilities to further integrate adidas and Reebok functions. In addition, we continue searching for ways to increase efficiency in our supply chain and make it truly demand-driven. Furthermore, by implementing end-to-end planning processes and improving our replenishment capabilities, we see opportunities to not only better serve our customers but also to reduce our operating working capital needs see Global Operations. Another example in this respect is the reduction of the number of articles; this reduces workload in the creation area and warehouse costs, and allows us to offer more focused ranges to our retail partners.
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