adidas 97% drop in profits? - Printable Version

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adidas 97% drop in profits? - manus - 05-05-09

Did I just hear the news story on the radio correctly? I just heard that adidas has had a 97% drop in profits in the first quarter of this year.

EDIT - I did hear correctly. They are now talking about restructuring the company, closing offices and stores. Gulp. Hope that doesn't affect anyone on here.

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RE: 97% drop in profits? - mr.pure - 05-05-09

Yeah, you heard right.
It's a massive company nowadays though and a large part of it is Salomon.
Would've been worse if BL hadn't turned up though as all his purchases happened in the last financial year.

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RE: adidas 97% drop in profits? - streak - 05-05-09

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RE: adidas 97% drop in profits? - Sweet_Kicks - 05-05-09

Most of the restructure has already taken place, the Bolton office for Reebok closed last week, and all the sales/marketing functions came up to Stockport, and the apparel design side moved over to Canton in the states.
Salomon was sold off a few years ago to Amer (a Finish company).

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RE: adidas 97% drop in profits? - mr.pure - 05-05-09

Ooops, my bad.

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RE: adidas 97% drop in profits? - Sweet_Kicks - 05-05-09

Decided we knew shit about winter sports

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