SBD/Morning Buzz

Adidas Narrows Losses With Strong Pre-World Cup Sales Numbers

adidas today said that it "sharply narrowed its net loss last year and increased its dividend as it forecast higher sales in 2014, boosted by gains from sporting events" such as the FIFA World Cup in Brazil. The company posted a Q4 net loss of $13.7M, narrower than the $374M loss in Q4 '12. Operating profit was $62M compared with a loss of $328M a year earlier, "with sales increasing" at TaylorMade. adidas also said that "weaknesses in emerging market currencies" will "weigh on the company's results" (WSJ.com, 3/5).
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