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 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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