Adidas: 'Cautiously optimistic'

Frankfurt - German sportwear and equipment maker Adidas said on Wednesday that its net profit fell by 30% to €213m ($314m) 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 6% to €2.89bn, a statement said, though when corrected for foreign exchange effects the figure showed an increase of 7%.

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 1% and 5% in sales and a lower net profit than in 2008.

- AFP