Adidas' 3Q net up 2 percent but pulls '09 guidance
AP News | 2008-11-06 06:48:32
<div id="subtitle">Athletic apparel maker Adidas' 3Q up 2 percent to 302 million euros but pulls guidance for '09</div><div><p>Adidas AG, the world's No. 2 athletic gear and apparel maker, said Thursday its third-quarter profit rose 2 percent on higher sales and confirmed its outlook for the rest of the year. But uncertainty led it to pull its guidance for 2009, the company said.</p><p>Adidas earned 302 million euros ($390.6 million) in the July-September period compared with 298 million euros a year ago, as sales rose 5 percent to nearly 3.1 billion euros ($4 billion) compared with 2.9 billion euros last year.</p><p>Looking to the end of the year, Adidas said it still expects net profit growth of 15 percent, but "as a result of the uncertain global macroeconomic environment," it canceled its outlook for next year.</p><p>Adidas trails Nike Inc. in global sales but is bigger than rival Puma AG.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=36441962&bid=informcom" /></div><div id="copyright"><div>
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