Steve Pike with the analysis following Adidas CEO Herbert Hainer's comments that came while announcing third quarter earnings, which were up 7% for Taylor Made.
But not enough to save jobs, apparently.
“While this will negatively impact profitability by a low-double-digit million euro amount in the fourth quarter, the immediate result will be a more nimble organization, which will have a positive effect on the Group’s profitability from 2016 onwards,’’ Hainer said.
Adidas Group reported TMaG sales for the Q3 of 2015 at 159 million Euros in the quarter, an increase from 138 million Euros the same period in 2014. For the nine months of 2015, Adidas Group reported TMaG’s sales increased seven percent to 678 million Euros. That’s approximately $738 million –only about $100 million less than rival Callaway Golf’s total sales estimate for 2015. The Adidas Group did not release TMaG’s earnings numbers.