Strong quarter gives Adidas shot at goal

Article Abstract:

Adidas-Salomon AG announced that its chances of reaching its targeted 15% growth for 1999 year are "50-50." The company has set a yearly goal of 10%-15% net profit growth in 1999. Adidas posted a 23% decline in net profits for the first-half of 1999 to 182 million deutschemarks (93 million euros). Group sales increased by 2.2% to 5.05 billion deutschemarks.

Comment:

Announces chances of reaching targeted 15% growth for 1999 year are "50-50"

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Adidas-Salomon 9-mo earnings could weigh on shares

Article Abstract:

Adidas-Salomon is expected to post slow earnings for the first nine-months of 1999. The earnings report could hurt the company's troubled share value. Adidas-Salomon is expected to post 8 billion marks (4.1 billion euros) in sales for the period. This is an improvement from 7.9 billion marks during the same period in 1998.

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