adidas_1
Innovative, customizable adidas footwear concept featuring a built-in microprocessor that automatically and continuously adjusts the cushioning level to the needs of athletes and changing surface conditions (first intelligent footwear).
American Depositary Receipt (ADR)
A US-traded negotiable certificate of a foreign-based company held by a US bank that entitles the holder to all dividends and rights of the underlying stock. ADRs are traded similarly to stocks on US exchanges and provide a way for Americans to invest in foreign-based companies by buying their shares in the USA instead of through an overseas exchange.
Asset-Backed Securities (ABS)
Securities (bonds or notes) backed by loan receivables, accounts receivable or other quantifiable assets.
Asset Coverage I & II
The extent to which a company’s non-current assets cover its debt obligations. They are expressed as a percentage and calculated as follows:
Asset coverage I (%) = (equity + non-current liabilities) / non-current assets.
Asset coverage II (%) = (equity + non-current liabilities) / (non-current assets + inventories).
Athletic Specialty
A largely mall-based retail distribution channel in North America that focuses primarily on performance-oriented consumers.
Backlogs
Also called order backlogs. The value of orders received for future delivery. At adidas and Reebok, most orders are received six to nine months in advance, depending on the season. This information is used as an indicator of future sales performance.
Beta Factor
Indicates a stock’s relative risk. A beta coefficient of more than one indicates that the stock has a higher risk than the overall market. Consequently, a beta coefficient of less than one indicates a lower risk.
BOUNCE™
Three-dimensional energy management system, consisting of several pieces that can be placed under the forefoot and/or heel. The pieces are tuned to a particular need such as cushion and guidance for optimal performance.
Capital Expenditure
Total cash expenditure, net of any recoverable taxes (e.g. Value Added Tax – VAT) for the purchase, lease or construction of assets.
