Adidas Q2 revenue fell short of expectations
12.08.2013 3555

Adidas Q2 revenue fell short of expectations

Adidas AG, one of the world's largest sporting goods manufacturers, increased its net profit in the second quarter of 2013 by 4,2% to 172 million euros.

The company's revenue in the past quarter decreased by 3,8% - to 3,38 billion.

Adidas revenue in Western Europe fell by 12,1% in April-June to 812 million euros, in European emerging markets - by 4,1%, to 467 million euros, in North America - by 3,8%, to 826 million euros.

The company's sales in China jumped by 7% - to 371 million euros, in other Asian countries - decreased by 6,6%, to 531 million euros, in Latin America - increased by 13,4%, to 376 million euros.

"A weak environment in Europe and adverse fluctuations in the exchange rates of several currencies against the euro indicate that it will be much more difficult for companies to achieve the targets set for this year than previously expected," Adidas said.

At the same time, the company expects that in the fourth quarter of this year, revenue growth will increase.

Adidas AG, one of the world's largest manufacturers of sporting goods, increased its net profit in the second quarter of 2013 by 4,2% to 172 million euros.

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