The two sport-brand powerhouses release financials on the same day. For the third quarter, Nike - which sponsors Lance Armstrong and has a cycle apparel line distributed by Trek - anticipates that its revenue will increase more than 20 percent over the previous year. Adidas reported a 5 growth in sales and Salomon sales increased by 2 percent, partly because of Mavic
Both Nike and adidas-Salomon grow sales
Nikes businesses in the United States and Asia Pacific regions, combined with favorable European currency exchange rates, are resulting in very healthy revenue growth for the company, said Nike’s chairman and CEO, Philip H. Knight
Consumer demand for Nike products continues to grow as our innovative product and superior brand presence are generating renewed energy in the footwear and apparel industry. We remain optimistic that the momentum we are seeing in our business is setting the stage for continued profitable growth through the remainder of fiscal 2004.
The Nike and adidas-Salomon financial press releases can be seen here:
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