Sales in Other businesses (TaylorMade-Adidas Golf, Rockport, and Reebok CCM Hockey) grew 7% to €316 million ($439 mm) and advanced 7.8% on a currency-neutral basis. Gross margins in the Other businesses expanded 570 basis points to 45.0% of sales, and segmental operating margin improved 14.4 percentage points to 29.0% of sales.
TaylorMade increased sales by 14.9% to €223 million ($310 mm) and grew 15.9% on currency-neutral basis.
Hainer said TaylorMade-Adidas Golf's growth was driven by strong double-digit increases in metal, woods, footwear, and irons. In golf balls, Hainer said TaylorMade is “really starting to challenge at the premium end of the market, with growth of over 50% in the first quarter, and the doubling of market share to just under 10%.”
“Although the golf market at retail is off to a weak start, with most major markets around the world contracting at a high single digit rate, I am confident we will again achieve important market share wins in several categories this year as we continue to dominate the premium end of the sport, and cement our position as the largest golf company in the world,” said Hainer.
Sales at Rockport were down 6.9% to €56 million ($77.8 million) and declined 5.2% on currency-neutral basis.
Sales at Reebok CCM Hockey fell 14.4% to €21 million ($29.2 million) and slumped 16.9% on a currency-neutral basis due to lower licensed apparel and hard goods sales.
