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Industry: Email Alert RSS FeedAdidas AG in black. (Adidas AG reports profit in 1990)
Footwear News, March, 1991 by Tosh, Mark
MUNICH (FNS) -- Adidas AG reported its after-tax profit in 1990 "was more than 30 million Deutsche marks ($20 million)," a sharp turnaround from 1989's loss of 130 million marks ($86.8 million).
Adidas, which earlier reported a 4.8-percent increase in consolidated revenue to 3.4 billion marks ($2.2 billion), attributed its return to profitability to an "absolute turnaround in the United States." Adidas reported worldwide sales of 3.2 billion marks in 1989.
In 1990, Adidas USA Inc.'s earnings totaled $2.2 million compared with a loss of $62.8 million in '89.
Adidas AG said a precise profit figure would not be available until June. The company also noted it received an extraordinary gain of 56 million marks ($37.3 million) through the...
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