Sunoco Debuts "Essence Of Racing" Campaign Executive Transactions Isiah Thomas Expected Backlash Over Hiring FanDuel Brings On Most Of Zynga Sports Team Georgia Approves Increased Athletic Budget Kentucky Adding Ribbon Boards At Rupp IndyCar Ponders How To Attract Fans Long Term Jeff Gordon Hired As Full-Time Analyst For Fox Danica's Sponsorship Status To Be Telling For NASCAR Classified Advertisements
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adidas’ Q4 profit “fell 30[%], the first decline in more than a year,” as the company “stepped up U.S. and Asian investments to increase growth,” according to Gregory Ruben of BLOOMBERG NEWS. Q4 net income dropped 19% to $25M, compared to $35.2M in the year-ago window. Revenue for the quarter climbed 5.9% to $1.87B. Full-year profit grew 21% to $409.6M, while revenue increased 3% to $8.45B (BLOOMBERG NEWS, 1/27). REUTERS’ Ulf Laessing noted adidas had forecast a 20% jump in net profit on a currency-neutral sales growth of 5% in ’04. Shares of adidas have gained 23% in the past 12 months, “making it one of the top” performers on Germany’s DAX index (REUTERS, 1/27). At presstime, shares of adidas were trading at US$149.84, down 2.2% from yesterday’s close of US$151.02 (THE DAILY).