Record breaking sales for adidas Salomon in 02
Although the final figures won’t be released until March 11, the German athletic footwear giant adidas Salomon has said it expects to post record sales for the full year 2002, together with a 10% increase in profits.
Based on preliminary figures, sales in 2002 topped Eur6.5 billion – a 7% increase on the year before and an 11% increase on a currency-neutral basis. Currency-neutral sales increased in all regions and at double digit rates in both
Net income is expected to come in at the top end of the company’s targeted earnings range at Eur229 million ($249 million or $5.04 per share). The company cites both higher sales and gross margin improvements as well as lower minorities stemming from the group’s acquisition of the remaining shares in adidas
