Adidas warns on profit as Russia and golf stutter
FRANKFURT, Sept 19
FRANKFURT, Sept 19 (Reuters) - German sports apparel maker Adidas warned on 2013 profit on Thursday, saying adverse currency effects, a stock problem in Russia and poor trading at its golf business meant targets were no longer attainable.
For 2013, it now expects sales to rise by a low single digit percentage, an operating margin of around 8.5 percent and net income of between 820 million euros ($1.11 billion) and 850 million euros.
It had previously expected sales to rise by a low-mid single digit percentage, an operating margin of near 9 percent and net income of 890-920 million. ($1 = 0.7384 euros) (Reporting by Victoria Bryan)