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Article: Reebok seeks boost with S. American deal ; Company forms joint venture to distribute in Brazil, Paraguay
- Article from:
- The Patriot Ledger Quincy, MA
- Article date:
- May 7, 2008
- Author:
CopyrightCopyright 2008 The Patriot Ledger Quincy, MA. Provided by ProQuest LLC. (Hide copyright information)
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CANTON - Reebok's first-quarter sales dropped 6 percent, but the
athletic goods company is looking to boost sales with a new South
American venture.
The Canton company's German parent company Adidas said on Tuesday
that its first-quarter revenues rose 3 percent to 2.6 billion euros,
or about $4 billion. Net income rose 32 percent to 169 million
euros, or about $261 million.
Backlogs of Reebok merchandise declined 13 percent from the
previous year on a currency-neutral basis. The biggest improvement
was in North America, where Reebok backlogs declined 22 percent.
Backlogs are expected to continue to decline at Reebok because of an
improved product mix and the launch of a new ad campaign ...