adidas reports record sales
adidas (XETRA: ADS.DE) posted record sales and raised its 2011 sales goal on improved consumer confidence.
It reported sales of EUR 11.99 billion (USD $16.64 billion), up 9 percent on a currency-neutral basis, and operating profit of EUR 894 million (USD $1.24 billion).
adidas said it expects mid-to-high single digit growth in sales in 2011, improving on its previous guidance for a growth rate in the mid single digits.
It maintained a forecast for 2011 earnings per share to rise by 10 percent to 15 percent, setting a target of between EUR 2.98 and EUR 3.12 (USD $4.13 and $4.33).
Also, the company more than doubled its dividend to EUR 0.80 (USD $1.11) per share for 2010.
(Conversion of Euros into U.S. dollars is for information only, is not necessarily relative to earnings, and is based on the currency rate as of Mar. 2.)
Saucony parent narrows Q4 loss
Collective Brands (NYSE: PSS), the parent company of Hind and Saucony, said its net loss narrowed slightly in the fourth quarter as sales improved in its wholesale unit.
For the three months ended Jan. 29, net loss was $10.1 million, or $0.16 per share, compared with a loss of $10.9 million, or $0.17 per share in the year-ago period.
The company said net sales increased to $773.8 million in the quarter, up 4 percent from $741.7 million. It said the improvement was driven by growth in its wholesale segment and international stores.
Comparable store sales -- including international locations -- rose 0.4 percent.
The cost of sales rose to $527.6 million, from $498 million. Selling and administrative expenses were $243.6 million, up from $238.9 million.
Full year 2010 net income was $112.8 million, or $1.75 per share.
Over the long term, the company said its goal is to grow earnings per share by about 12 percent to 16 percent annually.
Foot Locker Q4 net income more than doubles
Foot Locker (NYSE: FL) said its fourth-quarter net income more than doubled as it recorded fewer charges and its revenue rose.
Net income was $57 million, or $0.36 per share, for the fourth quarter ended Dec. 31, compared to $23 million, or $0.14 per share, a year earlier.
Revenue rose 5 percent to $1.39 billion from $1.33 billion in 2009's fourth quarter.
The company said fourth-quarter revenue at stores open at least a year rose 7.3 percent.
For the full year, net income was $169 million, or $1.07 per share, versus $48 million, or $0.30 per share, in 2009. Revenue rose 4 percent to $5.05 billion from $4.85 billion the year before. Same-store sales rose 5.8 percent for the year
Costco boasts Q2 profit jump
Costco Wholesale (Nasdaq: COST) said second-quarter profit rose 16 on strong sales during the holiday season and higher gasoline prices. Also, net sales rose 14 percent in February.
Costco earned $348 million, or $0.79 per share, compared with $299 million, or $0.67 per share, a year earlier.
Overall quarterly sales rose 11 percent to $20.45 billion, excluding membership fees. Those fees rose about 10 percent to $426 million. Second quarter same-store sales rose 7 percent, including fuel.
--Compiled by Wendy Geister
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