Adidas 2009 restructuring costs less than expected
FRANKFURT, March 3 |
FRANKFURT, March 3 (Reuters) - German sports goods maker Adidas ADSG.DE booked lower-than-expected charges for its restructuring programme last year.
"For the full year, we incurred costs of around 50 million euros ($67.61 million) in relation to our comprehensive reorganisation programme -- thereof 10 million in the fourth quarter," Chief Financial Officer Robin Stalker said in a speech prepared for the company's annual news conference.
Stalker had said in November that he expected another 20 million euros of charges for the fourth-quarter.
Adidas aims to save more than 100 million euros from 2010.
(Reporting by Eva Kuehnen)
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