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Strategies & Market Trends : Speculating in Takeover Targets
ULBI 6.025+6.4%3:59 PM EST
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To: richardred who wrote (453)11/9/2004 7:50:45 PM
From: richardred   of 7254
 
Adidas leads top-line growth in the first nine months
Sales growth at adidas set the pace for Group performance in the first nine months of 2004. Currency-neutral adidas revenues rose 7%. The success of the football category as well as the "Apparel Breakthrough" initiative was the major contributor to this development. At Salomon, revenues grew by 5% on a currency-neutral basis during the first nine months of 2004, mainly driven by positive developments in the apparel, cycling and nordic categories. Revenues for TaylorMade-adidas Golf increased 4% on a currency-neutral basis driven by growth in the metalwoods category, in particular relating to the success of the new r7 Quad driver. The putter and apparel categories also reported strong growth. Currency effects from a strong euro, especially versus the US dollar, negatively impacted sales at all brands in euro terms. As a result, adidas sales in euro terms were up 3% to € 4.155 billion in the first nine months of 2004 from € 4.017 billion in the same period of 2003. Salomon sales in euro terms were up 2% to € 399 million in the first nine months of 2004 from € 390 million in the prior year. TaylorMade-adidas Golf sales in euro terms declined 2% to € 477 million in 2004 from € 487 million in 2003.
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