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Last Updated: Wednesday, 3 November, 2004, 10:43 GMT
Adidas earnings given Asian boost
Adidas sport shoes
The market for trainers is crowded and very, very retro
Sporting goods maker Adidas-Salomon has reported a 19% rise in quarterly profit, driven by strong demand in Asia and a pick up in US sales.

Profit in the three months though September was 179m euros ($228m; 124m), topping market estimates and up from 150m euros a year earlier.

Sales climbed to 1.95bn euros in the third quarter and Adidas forecast that growth will continue.

It expects earnings to rise 20% in 2004 and by as much as 15% in 2005.

The firm, the world's second-biggest maker of sports goods and best known for its three-stripe logo, is facing stiff competition from rivals such as Nike and Puma.

Adidas also said on Wednesday that it was recalling about 200,000 basketball shoes because of problems with their heels.

The models affected are the "Superstar Ultra" and "Pro Team", which are sold mainly in the United States

Chief financial officer Robin Stalker said the cost of the recall would be between $5m and $10m.


SEE ALSO:
Is Euro 2004 an ad bonanza?
02 Jul 04 |  Business


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