Americas
Sales Americas (in EUR million)
Share in sales Americas 2013 (2012)
In the Americas sales in the Group's reporting currency increased by 2% year on year to EUR 570 million (2012: EUR 559 million). In local currencies, this corresponds to sales growth of 6%.
In the United States sales in the Group's reporting currency increased by 3% to EUR 447 million (2012: EUR 434 million). In local currency, sales growth of 6% was posted. Sales increases from existing retail space, the takeover of shop-in-shops previously operated by wholesale partners and selected new store openings led to double-digit growth in sales from the Group's retail business in the reporting period.
Significant sales growth in Central and South America
Sales in Canada in the Group's reporting currency totaled EUR 68 million, down 10% year on year (2012: EUR 76 million). Owing to the challenging market environment, especially in the wholesale channel, sales here decreased by 5% after currency adjustments. In Central and South America, it was possible to grow sales by 12% in the Group's reporting currency to EUR 55 million (2012: EUR 49 million). Despite the slowdown in economic growth in the region, it was possible to generate sales growth adjusted for currency effects of 16%.
In fiscal year 2013, sales in the Group's own retail business increased by 12% to EUR 293 million (2012: EUR 260 million). This is equivalent to an increase of 17% adjusted for currency effects. All markets in the region contributed to this development. Sales of EUR 277 million were generated in the wholesale channel in the same period (2012: EUR 299 million). Sales in this channel thus decreased by 7% in the Group's reporting currency, or 4% in local currencies. The takeover of stores previously operated by wholesale partners, particularly in the United States, led to a shift in sales from the wholesale business to the Group's own retail business.
Profit development Americas1
1 Due to changes in accounting policies and corrections made, certain amounts shown here do not correspond to the figures reported in prior years (for more details see notes to the Consolidated Financial Statements, PDF: (PDF:) Changes in accounting policies/Corrections).
Above-trend increase in Americas segment profit
The segment profit for the Americas came to EUR 152 million, up 8% year on year (2012: EUR 140 million). Driven by the further expansion of the Group's own retail business and strict pricing policy, it was possible to further increase the gross profit margin. An improvement in the gross margin meant that it was possible to almost completely compensate for the above-trend increase in fixed costs, mainly due to the expansion of the Group's own retail business. At 26.7%, the adjusted EBITDA margin was above the prior-year figure of 25.1%.