Adidas
The net profit of Adidas has risen sharply in the fourth quarter but below analysts' forecasts, while sales of the Reebok brand were down, the North American market remained weak.
* RESULTS.
The second global manufacturer of sporting goods behind Nike reported Wednesday a net profit attributable to the group of 21 million euros in the fourth quarter, an increase of 63%. Analysts were anticipating a net profit of 25 million euros.
Turnover grew by 7.6% to 2419 billion euro, the consensus view was of 2.36 billion.
* PROJECTIONS.
Adidas confirmed a forecast rise at least 15% of net earnings in 2008 and growth in the upper range of a single-digit turnover.
The Chief Executive Herbert Hainer said that the group was on course to achieve unprecedented results in 2008 and beyond despite "conditions had deteriorated in some important markets" in 2007.
* DETAILS.
The order book was up 17%, taking into account the effects of exchange for the Adidas brand by the end of 2007, thanks to the European Cup and the Olympic Games in Beijing in 2008.
The backlog of Reebok, purchased in 2006, was down 8% and Adidas believe that the poor performance of Reebok persist in the six to nine months ahead. The German group has, however, hopeful that sales of Reebok show an increase this year.
Adidas said it named Uli Becker CEO of Reebok on 1 April, replacing Paul Harrington.
Adidas has bought Reebok to strengthen its positions in the articles of clothing sporting classics. Since then, the German group is seeking to integrate better with his American counterpart in its organizational structure.
* MISCELLANEOUS.
Adidas states have repurchased 2.1 million shares at March 4 following a plan to repurchase 5% of the capital, representing 10.2 million titles, announced in January.
* HISTORY.
The American distributor of sports Footlocker has experienced serious difficulties in the fourth quarter, and this has had an impact on manufacturers such qu'Adidas, Nike and Puma. Footlocker has closed shops, cancelled orders and has not made any new ones.
* SCHOLARSHIP.
The action Adidas lost 0.72% to 41.15 euros at 9:51 GMT, while at the same time the Dax index gaining 0.88%.
* RESULTS.
The second global manufacturer of sporting goods behind Nike reported Wednesday a net profit attributable to the group of 21 million euros in the fourth quarter, an increase of 63%. Analysts were anticipating a net profit of 25 million euros.
Turnover grew by 7.6% to 2419 billion euro, the consensus view was of 2.36 billion.
* PROJECTIONS.
Adidas confirmed a forecast rise at least 15% of net earnings in 2008 and growth in the upper range of a single-digit turnover.
The Chief Executive Herbert Hainer said that the group was on course to achieve unprecedented results in 2008 and beyond despite "conditions had deteriorated in some important markets" in 2007.
* DETAILS.
The order book was up 17%, taking into account the effects of exchange for the Adidas brand by the end of 2007, thanks to the European Cup and the Olympic Games in Beijing in 2008.
The backlog of Reebok, purchased in 2006, was down 8% and Adidas believe that the poor performance of Reebok persist in the six to nine months ahead. The German group has, however, hopeful that sales of Reebok show an increase this year.
Adidas said it named Uli Becker CEO of Reebok on 1 April, replacing Paul Harrington.
Adidas has bought Reebok to strengthen its positions in the articles of clothing sporting classics. Since then, the German group is seeking to integrate better with his American counterpart in its organizational structure.
* MISCELLANEOUS.
Adidas states have repurchased 2.1 million shares at March 4 following a plan to repurchase 5% of the capital, representing 10.2 million titles, announced in January.
* HISTORY.
The American distributor of sports Footlocker has experienced serious difficulties in the fourth quarter, and this has had an impact on manufacturers such qu'Adidas, Nike and Puma. Footlocker has closed shops, cancelled orders and has not made any new ones.
* SCHOLARSHIP.
The action Adidas lost 0.72% to 41.15 euros at 9:51 GMT, while at the same time the Dax index gaining 0.88%.
posted by news of france at
12:44 PM
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