SBD/3/Finance

REEBOK STOCK SOARS TO 52-WEEK HIGH, BUT IS IT DUE TO ADIDAS?

          Reebok Int'l's share price "soared" to a new 52-week
     high yesterday, which company execs and analysts said was
     "fueled by strong sales reports from retailers of athletic
     footwear," according to REUTERS.  Reebok closed yesterday at
     $23.25, up 9.73%.  Its previous 52-week high was $21.94. 
     Reebok VP/Corporate Finance Neil Kerman: "One thing that
     happened today was that Venator Group ... announced their
     earnings ... which showed athletic group sales were up 11.3
     percent.  They are one of our largest customers."  First
     Security Van Kasper analyst John Shanley said Reebok is "in
     the right place, at the right time, with the right styles
     and they're really benefiting from it.  Their gains are
     coming primarily at the expense of Adidas" (REUTERS, 11/2).
          DROP AT ADIDAS: Meanwhile, adidas Salomon reported a
     "sharp drop" in profits for the nine-month period ending
     September 30, but "offered investors some positive news by
     forecasting an improvement in its performance" in the U.S.
     market by 2001.  Net profits for the period fell 22% to
     $150M, while sales rose 7%.  adidas said that sales of its
     Salomon and TaylorMade Golf brands "should see double-digit
     growth" in 2000 and "compensate for weakness" in North
     America and "negative currency effects."  adidas also said
     that it "would boost" its U.S. market share in the apparel
     and footwear category to 20% from its current 12% (FINANCIAL
     TIMES, 11/3).  The company did note that future orders for
     its sports shoes were up 17% (FT MARKETWATCH, 11/2).

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