Plagued by sagging sales in its TaylorMade-Adidas Golf unit and troubles in Russia caused by the political and socio-economic tensions there, the German Adidas Ag sportswear group has reduced its fiscal year 2014 income outlook by 26% to approximately 650 million Euro (870.9 million US$) from a range of 830 t 930 millions. The company now expects annual currency-neutral sales to increase mid- to high-single digits versus prior guidance of a high-single-digit improvement.
This article was republished with permission from Karl-Heinz Huba, the editor and publisher of the Sport Intern.