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EARNINGS : Adidas Losses Soared in 1989 Cheap Jerseys
August 24, 1990 From Times Wire Services Wholesale Jerseys
Adidas AG, the world’s leading sporting goods maker, said its losses surged to $72 million last year from $6 million in 1988. Adidas, in which French entrepreneur Bernard Tapie unexpectedly acquired a controlling 80% stake last month, said it has been struggling to restructure itself to meet increasing competition and expects better results next year. “The Adidas group will achieve considerably better results in 1990 than in the previous year,” it said in a statement.
Kaethe Dassler, who with her husband founded the Adidas sporting goods company, died Monday of a heart attack, a company spokesman said. She was 67. Mrs. Dassler and her husband, Adolf, started Adidas in 1948. She had served as head of the company since his death in 1978. He was 51. Nike and Adidas which generate a combined $12 billion in revenue are rushing to sign up national teams to wear their logos during the upcoming soccer games. said the golf division of Adidas Group would buy the company for about $28.1 million. The division, called TaylorMade Adidas Golf Co., will buy the company for $1.90 a share in cash through a tender offer. rival Reebok International Ltd. in a deal worth more than $3 billion, according to newspaper reports today. The two companies have held discussions but no agreement has been reached, Britain’s Financial Times said, citing people familiar with the matter.
