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Article: ADIDAS ON THE RISE IN THIRD QUARTER.(Financial report)
- Article from:
- Footwear News
- Article date:
- November 12, 2007
- Author:
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Copyright informationCOPYRIGHT 2007 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Meredith Derby
NEW YORK - Adidas Group's strong third-quarter results have given the company confidence for the remainder of 2007.
Buoyed by sales of its namesake brand, the Herzogenaurach, Germany-based company said net earnings rose 20 percent to 300 million euros, or $412.2 million, calculated at average exchange. Diluted earnings per share expanded to 1.37 euros from 1.12 euros a year ago.
Though sales declined during the quarter for Reebok, Adidas said overall consolidated revenues rose a currency-neutral 3 percent to 2.94 billion euros, or $4.04 billion. Reebok sales fell 7 percent to 728 million euros, or $1 billion, on a constant euro basis, while ...
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