FRANKFURT Nov 7 German sports apparel company
Adidas said it expected business to improve from the
fourth quarter as it reported third quarter results hit by
problems in Russia, currency effects and poor sales of golfing
Adidas, the world's second largest maker of sports gear
behind Nike, reported third quarter operating profit
down 6 percent to 463 million euros ($626 million), against the
average estimate for 466 million in a Reuters poll.
Sales dropped 7 percent to 3.88 billion euros, compared with
the average forecast for 3.92 billion. Adjusted for currency,
sales would have been stable.
The company maintained a forecast for sales to rise by a low
single digit percentage in 2013 and to achieve an operating
margin of around 8.5 percent.