May 3, 2018 / 2:00 PM / 3 months ago

Adidas sees flat sales in Europe in second quarter

BERLIN, May 3 (Reuters) - Adidas expects sales in Western Europe to be flat in the second quarter after the first three months were helped by the release of World Cup jerseys, the German sportswear company said on Thursday.

Adidas shares fell after the remarks, trading down 5.7 percent at 1400 GMT.

Chief Executive Kasper Rorsted made the comments on an analyst call after Adidas reported that Western Europe saw sales growth slow to 5 percent in the first quarter.

“We are moving to a flattish revenue number for the second quarter,” Rorsted said, adding that this year’s World Cup in Russia offered less financial opportunities than the last competition in Brazil. (Reporting by Emma Thomasson Editing by Arno Schuetze)

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