|
|
Article: Adidas Q3 net income falls 30 pct
- Article from:
- AP Worldstream
- Article date:
- November 4, 2009
- Author:
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
German sportswear company Adidas AG said Wednesday its net income fell 30 percent in the third quarter as it saw sales decline, especially at its sport performance division.
Adidas, based in Herzogenaurach, said net income fell to ⁈llion ($315 million) in the July-September period from ⁈llion in the third quarter of 2008.
Revenue for the period fell 7 percent to ⁈llion from ⁈llion.
Adidas, which also owns the Reebok brand, said it expected sales to decline at a low to mid-single-digit rate in 2009, assuming unchanged currency values, due to weaker consumer confidence and rising unemployment in many major markets.
The company also said net income ...