Adidas quarterly profit falls by 30%

FRANKFURT: German sportwear and equipment maker Adidas said on Wednesday that its net profit fell by 30 percent to 213 million euros ($314 million) in the third quarter of 2009.

The result was in line with forecasts and demonstrated the tough conditions faced by retailers, with Adidas adding that it expected a decline in income for the year as a whole.

Sales for the three-month period slipped by six percent to 2.89 billion euros, a statement said, though when corrected for foreign exchange effects the figure showed an increase of seven percent.

Adidas chief executive Herbert Hainer was quoted as saying that the group had "sucessfully adapted to a difficult environment. "Consumer and retailer sentiment still hovers between fear and optimism," he said, adding: "However ... I am cautiously optimistic."

For the full year, the German group confirmed its outlook for a fall of between one and five percent in sales and a lower net profit than in 2008.