November 8, 2012 / 9:47 AM / 5 years ago

Adidas sees Reebok sales in India halving

FRANKFURT (Reuters) - Adidas (ADSGn.DE) expects its sales and customer base in India will halve there once it has completed restructuring the business after a fraud was uncovered there earlier this year.

Tobias Hosemann arranges sports shoes in his store in the northern German town of Hamburg August 3, 2005. REUTERS/Christian Charisius/Files

“Revenues can even be less than half as we want to take only customers where we can build a healthy sustainable business,” Chief Executive Herbert Hainer told journalists during a conference call on Thursday.

Chief Financial Officer Robin Stalker said Adidas had taken one-off charges of around 60 million eurosrelated to the restructuring by the end of September with a further 10-15 million to follow in the fourth quarter.

They were speaking after Adidas slightly lowered its 2012 sales outlook earlier on Thursday on lower-than-expected sales at Reebok.

Reporting by Victoria Bryan

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below