TaylorMade-Adidas Golf CEO Steps Down Asics America Enjoys Strong '14 Adidas Aims To Grow Profits By 15% Annually Norman's Company Opens Investment Arm Wilson Purchases Louisville Slugger FIFA Makes Record Revenue Of $2B Adidas Aims To Increase Share Of U.S. Market Nike Reps 49 Teams In Women's Tourney TLA Worldwide Acquires Elite Sports Properties Mobile Fantasy Company Closes VC Funding
Upcoming Conferences and Events
adidas Posts Gain In Profit For FY ’04 Despite 30% Q4 Drop
Published January 27, 2005
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).