Reebok’s Q2 and H1 financial results in line with financial targets

21/07/2005

Reebok International Ltd. has reported net income for the second quarter ended June 30, 2005 of $37 million, an increase of 71% when compared to net income of $22 million for the second quarter of 2004. Net sales for the 2005 second quarter were $876 million, an increase of 8% from 2004's second quarter net sales of $814 million. For the Reebok brand, worldwide sales in the 2005 second quarter increased 9% to $740 million compared to 2004's second quarter sales of $681 million.

 

Paul Fireman, chairman and CEO, said, "Our second quarter and six month financial results were in line with our overall financial targets. On the product front, we generated strong sales increases on Reebok Performance footwear products on a worldwide basis. We are clearly seeing a shift to more technical performance products, particularly in the U.S. market.

 

“During the quarter, Reebok sales of performance footwear products increased by 24% on a worldwide basis and worldwide sales of Reebok classic footwear product grew. In Europe, Asia and Latin America, sales of classic footwear products increased strong double-digits during the first six months of 2005. In the U.S., where the market has turned more towards technical performance products, sales of classic footwear products did decline," Fireman noted.

 

Sales for the company's other brands, Rockport, The Greg Norman Collection and Ralph Lauren Footwear, were $136 million in the second quarter of 2005 compared with 2004's second quarter sales of $133 million, an increase of 2%.