Europe's biggest sportswear maker Adidas today warned that its targets for 2013, especially for sales, would be more difficult to achieve than originally thought, after posting a second-quarter drop in sales.
"The lacklustre trading environment in Europe and the unfavourable development of several currencies versus the euro indicate that the group's goals for the full year will be more challenging to reach than when initially announced," the company said.
The German group that competes against Nike and Puma said it was slightly revising downwards its projected full-year sales "to grow at a low to mid-single-digit rate on a currency-neutral basis".
"While currency headwinds have added additional significant speed bumps to our path in 2013, from a strategic and operational perspective, we are absolutely on track," chief executive Herbert Hainer said in a statement.
Sales in the second quarter fell four per cent to USD 4.5 billion, while net profit jumped four per cent to 172 million euros, said the company which is set to provide the official football at next year's World Cup in Brazil.
