Adidas sales drop on Reebok, lack of sporting events

FRANKFURT Fri May 3, 2013 1:41am EDT

FRANKFURT May 3 (Reuters) - Germany's Adidas reported a 2 percent decline in sales for the first quarter on fewer major sporting events, ongoing problems at its Reebok brand and currency effects.

The world's second largest sports apparel firm after Nike said sales in the first three months of 2013 totalled 3.75 billion euros ($4.90 billion), falling slightly short of expectations, while operating profit rose 8 percent to 442 million.

Analysts had expected sales to fall 1.3 percent to 3.78 billion euros, with operating profit of 421 million euros, according to a Reuters poll.