Reebok Profit Climbs on Shoe Endorsements
From Bloomberg News
Reebok International Ltd., the No. 2 U.S. maker of athletic shoes, said first-quarter earnings rose 5.1%, helped by footwear endorsed by rap musicians.
Net income climbed to $43.2 million, or 70 cents a share, from $41.1 million, or 63 cents, a year earlier, Canton, Mass.-based Reebok said.
Revenue increased 11% to $925 million, boosted by the dollar’s decline against the euro and the pound.
Reebok shares rose 61 cents to $42.64 on the NYSE.
