Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Adidas hits currency hurdles but profits up

Share this article

Adidas hits currency hurdles but profits up
Photo: DPA
09:09 CEST+02:00
German sports clothing giant Adidas could finally be running out of steam, latest profit figures suggest.

In the second quarter of 2013, the world's second biggest sport clothing manufacturer logged a fall in turnover of 3.8 percent compared to last year.

The company said that last year's sales were boosted by football tournament the Euros and the Olympic Games in London, whereas this year there had been no comparable events.

Adidas' performance does appear more stable when profits are adjusted for currency effects – a net profit of €172 million – up four percent on last year due to falling tax demands.

And company said it remained optimistic, predicting a gross turnover of €14.9 billion this year.

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

This small Mediterranean capital is the perfect winter city break

Valletta, Malta's small but mighty capital, still feels like one of the Med's undiscovered gems. But it won't stay that way for long. The Local's commercial editor, Sophie Miskiw, explored 2018's Capital of Culture and can't wait to go back.