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Industry: Email Alert RSS FeedAdidas AG posts flat sales in '89. (athletic shoe manufacturer)
Footwear News, April, 1990
Adidas AG posts flat sales in '89
PARIS (FNS) - Adidas AG last week reported flat 1989 sales of 3.2 billion Deutsche marks ($1.9 billion), "marred by unsatisfactory developments in the U.S.A. and France," but otherwise in line with expectations.
The West German athletics giant did not disclose a profit or loss figure, saying the number would not be announced until the summer.
Problems in the U.S. and France downplayed improved sales in West Germany, Italy and Britain, Adidas said. The company added that the continuing re-organization of its sourcing network led to "delivery bottlenecks and sales losses." This negatively affected sales of shoes with the Torsion technology at a time when demand was great for the new product, Adidas said. ...
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