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Article: adidas-Salomon in 2001: Record Net Sales and 15% Earnings Growth; - Delivered 15% earnings growth, record net sales in 2001 for Group - Maintained industry-leading gross margin at 42.6% - Positive backlogs in North America, first time in three years - Reduced expenses as percent of net sales, first time in five years - Fourth quarter profit up in challenging market.
- Article from:
- PR Newswire
- Article date:
- March 7, 2002
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HERZOGENAURACH, Germany -- adidas-Salomon AG today reported fourth quarter and full year 2001 results for the period ended December 31, 2001.
Best fourth quarter earnings ever
For the fourth quarter of 2001, adidas-Salomon net sales were stable at euro 1.4 billion. On a currency-neutral basis, this represents an increase of 5%. Gross margin declined 1.4 percentage points versus the prior year to 41.6%, largely as a result of the weak euro. Q4 operating profit increased 4% to euro 55 million for the quarter compared to euro 53 million in the same period in 2000. Net income reached euro 24 million, or euro 0.53 per share, compared to euro 5 million or ...