By
Reuters
Published
Nov 8, 2012
Download
Download the article
Print
Text size

Adidas lowers 2012 sales goal on Reebok woes

By
Reuters
Published
Nov 8, 2012

FRANKFURT - Germany's Adidas lowered its sales forecast for 2012 on Thursday due to weaker than expected business at its Reebok and Rockport brands as it reported in line third-quarter profits.

The world's second largest sports apparel firm said it now expected 2012 sales to increase at a high single-digit rate, compared to a previous expectation for almost 10 percent.

It reported third quarter operating profit of 494 million euros and sales of 4.17 billion euros ($5.3 billion), in line with analyst expectations for 490 million euros and 4.16 billion.

($1 = 0.7840 euros)

Reporting by Victoria Bryan

© Thomson Reuters 2024 All rights reserved.