Adidas sees profits plunge by 95%
7 August 2009 | Interesting, Sports | No Comments
Sportswear giant Adidas has reported a fall in profits for the April to June period of 93% as consumer spending fell during the economic downturn.
But the company was upbeat about its prospects for the rest of the year. “I believe we have seen the bottom in our financial performance this year,” said Adidas boss Herbert Hainer. “We did not see any fundamental deterioration in our business since publishing our first-quarter results… I am confident that our results will improve as we go through the remainder of the year,” he added. Sales grew in the US and in Latin America, but fell in most major European and Asian markets.
BBC NEWS | Business | Adidas sees profits plunge by 95%
Log in to post a comment.
You can follow the discussion through the Comments feed. You can also pingback or trackback from your own site.