Adidas Reports Stagnant Profit

Specialists said the biggest decrease is to wait in Great-Britain, Germany and Spain. In Asia Adidas continou to grow.

 The world's second-largest
sporting-goods maker's net income was 302 million euros ($388
million), the Herzogenaurach, Germany- based company said in a
statement, below the 320.5 million- euro average of five analysts'
estimates compiled by Bloomberg.

Nine-month Asian sales jumped 23
percent excluding exchange rates, said Adidas, which spent more money
to advertise its shoes and clothes before August's Olympic Games in
Beijing.

Until now, Adidas expected next year's
profit to rise at a “double-digit'' pace on a “high-single-digit''
climb in sales. Hiring has been halted to help lower costs, Chief
Executive Officer Herbert Hainer said.

“Growth at Adidas won't be at the same
pace as it is this year,'' the CEO said on a conference call with
journalists.

Adidas fell 2.83 euros to 26.64 euros
today on the Frankfurt stock exchange. The stock has dropped 47
percent this year, valuing the company at 5.28 billion euros.

Third-quarter sales rose 4.8 percent to
3.08 billion euros. They increased 15 percent excluding exchange
rates under Adidas' own brand, fell 1 percent under the Reebok
trademark on that basis and climbed 12 percent in the same terms.