Reebok Q3 operating profit drops by a third
FRANKFURT, Nov 4 (Reuters) - The operating profit of Adidas (ADSG.DE: Quote, Profile, Research) unit Reebok fell 34 percent in the third quarter to 17 million euros ($25.1 million), Adidas said on Wednesday.
Adidas bought Reebok in 2006 to complement its strength in classic sportswear and to compete against No.1 Nike (NKE.N: Quote, Profile, Research), however Reebok still struggles, particularly in its North American home market.
(Reporting by Christian Kraemer and Eva Kuehnen)
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