BERLIN — Adidas-Salomon AG saw net earnings grow 10 percent to $247.8 million and sales rise 7 percent to $7 billion in 2002, according to preliminary figures released last week.
Earnings for the Herzogenaurach, Germany-based active sportswear group came in at the top end of the group’s forecasted earnings range, and translated to $5.45 a share compared with $4.98 in 2001. Adidas-Salomon said the increase was driven by both higher sales and gross margin improvements, and added that the acquisition of the remaining shares of Adidas Italy also contributed to the strong earnings picture.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)