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Footwear sales help lift profits at adidas, Puma

08/11/2002

Strong footwear sales are behind the better than expected third quarter profits posted earlier this week by Germany’s adidas-Salomon and Puma.

At adidas-Salomon, profits were up 15.2% to Eur131 million or Eur2.89 a share on sales of Eur1.86 billion, where were 4.4% up on the year before. Though the latter figure was slightly down on analysts’ expectations, profits were slightly ahead, helping the company stay on track for its 5% sales growth outlook for the full year.  Year to date sales in Asia soared 21% to Eur841 million as the brand's sponsorship of ten of the 32 teams competing in the World Cup paid off.  Underlying order backlogs were up 16%, the most positive development in four years, adidas said.

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