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Adidas cuts sales outlook on currency headwinds
August 8, 2013 / 5:52 AM / 4 years ago

Adidas cuts sales outlook on currency headwinds

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

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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