Adidas AG in black for fiscal year 1990.

Daily News Record, June, 1991

PARIS (FNS) - Adidas AG reported profits for 1990 totaled 52 million deutsche marks ($29.2 million) against a loss of 130 million marks in fiscal 1989.

This improvement, Adidas noted showed that "the turn-around has been achieved."

In February, Adidas, a German footwear and apparel group, forecasted 1990 profits of "more than 30 million marks," but final figures were not released until Thursday's annual meeting in Nuremberg, Germany.

Additionally, Adidas reported 1990 sales rose 4.5 percent to 3.34 billion marks ($1.877 billion) from 3.2 billion marks in 1989.

Sales of apparel items, which increased 7 percent last year, totaled about 1.3 billion marks ($732 million), or 39 percent of the company's consolidated turnover. ...

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