CDI Posts Small Loss During Q1 Sochi Games Provide Q1 Jolt For NBCUniversal Louisville, Adidas Ink Five-Year Extension Disney: Cable Network Unit Growth To Continue Foot Locker Ad Puts Lillard In Spotlight Adidas Signs Lillard To Massive Shoe Deal WME Plans To Cut $151M Out Of IMG WME Plans To Cut $151M In Costs Out Of IMG Mississippi State Extends Adidas Deal Adidas Brings Back Popular Rod Laver Shoes
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).