Adidas sales drop on Reebok, lack of sporting events
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.
- Missing jet may have strayed toward Andaman Sea: Malaysian air force |
- NYC buildings explosion kills two, more missing
- EU moves towards travel bans, asset freezes for Russians |
- Malaysia military source says missing jet veered to west |
- Exclusive: EU approves framework for asset freezes, travel bans on Russia