Retail Industry
Industry: Email Alert RSS FeedAdidas will uncork technical surprise. (Adidas AG)
Footwear News, September, 1991 by Tosh, Mark
MUNICH (FNS) -- The industry can expect "more surprises from (Adidas)," including a "technical innovation" in its top-of-the-line Equipment category in December, Rene Jaeggi, chairman, Adidas AG, Herzogenaurach, told FN during the recent ISPO.
Jaeggi also said Adidas USA Inc., Warren, N.J., could finish 1991 with a pre-tax loss, following last year's pre-tax profit of $2.2 million.
Adidas USA was "too optimistic" in its expectations in September 1990, when executives prepared a business plan for 1991, Jaeggi said. At that time, few believed there would be a Persian Gulf War, he added, and U.S. retailers also ran into more trouble than expected.
Adidas USA inventory levels are still high, which leads to cutting prices and ultimately lowers...
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