Adidas to close Neo stores in Europe

An Adidas logo is pictured after the annual news conference at the compnay's headquarters in the northern Bavarian town of Herzogenaurach, near Nuremberg, Germany, March 3, 2016. REUTERS/Michaela Rehle/File Photo

BERLIN (Reuters) - German sportswear company Adidas will close 16 stores in Europe for its teen brand Neo, focussing instead on offering its products through wholesale partners in the region, Chief Executive Herbert Hainer said on Wednesday.

While its own Neo stores have helped Adidas test new ways of engaging with young consumers, it has been more successful at selling Neo products through wholesale channels, Hainer told a conference call for journalists.