Adidas lowers 2012 sales outlook on Reebok woes

"Revenues can even be less than half as we want to take only customers where we can build a healthy sustainable biz"

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.

"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.

 

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Business Standard
177 22
Business Standard

Adidas lowers 2012 sales outlook on Reebok woes

"Revenues can even be less than half as we want to take only customers where we can build a healthy sustainable biz"

Reuters  |  Frankfurt 



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.

"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.

 

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Adidas lowers 2012 sales outlook on Reebok woes

"Revenues can even be less than half as we want to take only customers where we can build a healthy sustainable biz"

Adidas 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.

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.

"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.

 

image
Business Standard
177 22
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