ADIDAS PROFITS
Adidas AG (FRA:ADS) increased its net profit to 683 million euros.
The German manufacturer had a growth of sales on Adidas and Reebok brands.
Adidas reported that revenue for the same period rose nearly 17% to 12.748 million euros, by the weak euro. Without the favorable effects of the exchange rate of the euro turnover would have risen by 9%. Operating profit in January-September improved by 17.3% to 1,083 million euros.
The euro’s weakness also contributes to the turnover in the golf division TaylorMade, in which the company has implemented a restructuring program by falling sales in the US and Western Europe.
Ifthe positive effectsof the exchange rateare not counted, theturnover ofTaylorMadeto Septemberfell12.7% to 678 millioneuros.
Adidas chairman Herbert Hainer, revised up its revenue and profit forecasts for this year.
Read more:
http://www.adidas-group.com/en/investors/overview/
ADIDAS TO RUN IN CIRCLES
ADIDAS is an important manufacturer of sports equipment.
The brand faced the FIFA through a statement released last week, which required the governing body of world football to improve their standards of compliance with the rules to make them more transparent.
Following the arrest in Zurich of several senior positions FIFA by multiple offenses of corruption, one of the sponsors with more weight in the World wanted to release a warning message to the body, so it does not happen again cases of corruption.
“The Adidas Group is fully committed to creating a culture that promotes ethical and compliance standards and expect the same of our partners,” said the German company in a statement distributed by email and quoted by Reuters.
“After the news, we can only encourage FIFA to continue to establish and follow clear standards of compliance standards in everything we do,” they added.
This may penalize quotes if the polemics continue or eventually investigations into contracts with partners suggest potential irregularities.
Read more:
http://www.adidas-group.com/en/investors/overview/
ADIDAS JUMPS HIGHER THAN EXPECTED
Adidas released the results of the first quarter.
The company reported a 17% increase in sales to EUR 4090 mn, which exceeded the expected by the market (EUR 3,490 mn), which represent a gross margin of 49.2%.
Net profit amounted to EUR 221mn, in line with estimates (EUR 219.2 mn), already reflecting the new CEO of the strategy in a quarter where the company benefited from the increase in demand for running shoes and an increase in consumption in Europe .
By geographical areas, sales fell 33.6% in the division that includes Russia and several former Soviet republics, whereas increased 44.3% in China, 27.9% in North America, 26.6% in Middle East, Africa and several Asian countries, and 13.1% in Western Europe.
The targets set for 2015 have been restated.
Read more:
http://www.adidas-group.com/en/investors/overview/
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