Adidas cuts sales outlook on currency headwinds

FRANKFURT Thu Aug 8, 2013 1:48am EDT

The Adidas logo is pictured on a shirt during the company's annual news conference in Herzogenaurach March 7, 2013. REUTERS/Michael Dalder

The Adidas logo is pictured on a shirt during the company's annual news conference in Herzogenaurach March 7, 2013.

Credit: Reuters/Michael Dalder

FRANKFURT (Reuters) - German sporting goods firm Adidas (ADSGn.DE) cut its sales outlook for 2013 after currency effects took their toll in the second quarter.

The group said on Thursday it now expected group sales to rise by a low to medium single-digit percentage in 2013, compared with previous guidance for a medium single-digit rate.

For the second quarter it reported sales of 3.38 billion euros ($4.50 billion), down a greater than expected 4 percent, and operating profit of 252 million.

Analysts had expected quarterly sales to decline by 2 percent to 3.44 billion euros and operating profit of 261 million euros, according to a Reuters poll.

($1 = 0.7508 euros)

(Reporting by Victoria Bryan; Editing by Maria Sheahan)

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