* Q3 sales 4.17 bln euros, vs 4.16 bln forecast
* Q3 operating profit 494 mln euros, vs 490 mln forecast
* Sees 2012 sales up by high single-digit percent
* Sees earnings growing more than 10 pct in 2013
* Shares down 3.2 percent
By Victoria Bryan
FRANKFURT, Nov 8 German group Adidas
has trimmed its 2012 sales forecast amid a continuing sales
slump at Reebok, whose sales have fallen sharply for a second
The world's second-largest sportswear group after U.S. rival
Nike said on Thursday it now expected 2012 sales to rise
by a high single-digit percent, compared with a previous
forecast for a rise of almost 10 percent.
Adidas also reported third-quarter operating profit of 494
million euros ($630 million) and sales up 4 percent to 4.17
billion euros, in line with expectations for 490 million and
Reebok has had a torrid year in which its toning shoes fell
out of favour, it discovered fraud at an Indian unit, and lost a
major American football contract.
In addition, the group is now being hurt by a lockout by
U.S. hockey players threatening to wipe out the entire season.
Adidas has annual sales of around 100 million euros from
hockey in North America.
Adidas has performed better than rivals Nike and Puma
this year, taking market share in hotly contested
countries such as China.
The one black mark on its record has been Reebok, whose
sales fell 25 percent in the third quarter, following a 26
percent fall in the second quarter.
Adidas shares, up nearly a third in value this year, were
down 3.2 percent by 1010 GMT, the biggest faller on the DAX
index of leading German companies.
"Adidas has lowered sales forecasts. Investors do not like
to hear that," said one trader.
The downgrade was unusual for Adidas, which raised its 2011
sales outlook four times over the course of that year.
"Most shareholders continue to show a profit on their Adidas
holdings. With minor disappointment at Reebok, some trimming of
holdings is understandable," Silvia Quandt analyst Mark Josefson
said, maintaining a 'buy' rating on the stock.
Even when cutting its 2015 forecast for Reebok in September
2012 by a third to 2 billion euros, Adidas kept its overall 2015
group target of 17 billion euros thanks to its Adidas brand and
TaylorMade Golf division.
On Thursday, it maintained a target for 2012 net earnings to
rise 15-17 percent to 700-785 million euros. Profit has been
growing faster than sales, helped by higher margins in emerging
markets and through its own stores.
Analysts expected the group to report 2012 net earnings up
21 percent, a Reuters poll found.
The 2012 sales outlook overshadowed comment on 2013, when it
expects earnings to rise over 10 percent and an operating margin
of around 9 percent, up from around 8 percent this year.
"We will see record sales and earnings in 2013," chief
executive Herbert Hainer said in a video on the group's website.
"All that I hear from the markets is that we are winning market
share in each and every country."
Hainer also predicted a return to sales growth for Reebok in
2013 and said he was seeing the first signs of success with its
Classics and children's ranges.