November 8, 2012 / 6:47 AM / 5 years ago

Adidas lowers 2012 sales goal on Reebok woes

FRANKFURT, Nov 8 (Reuters) - Germany’s Adidas lowered its sales forecast for 2012 on Thursday due to weaker than expected business at its Reebok and Rockport brands as it reported in line third-quarter profits.

The world’s second largest sports apparel firm said it now expected 2012 sales to increase at a high single-digit rate, compared to a previous expectation for almost 10 percent.

It reported third quarter operating profit of 494 million euros and sales of 4.17 billion euros ($5.3 billion), in line with analyst expectations for 490 million euros and 4.16 billion. ($1 = 0.7840 euros) (Reporting by Victoria Bryan)

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