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Adidas forecasts slower sales and profit growth for 2018

Reuters  |  HERZOGENAURACH, Germany 

HERZOGENAURACH, Germany (Reuters) - Adidas forecast another year of sales and profit growth for 2018, albeit at a slower pace than in 2017, as the German sportswear firm reported fourth-quarter sales that undershot analyst forecasts and a net loss due to a one-off U.S. tax hit.Adidas, which has seen its shares fall 15 percent in the past six months as its growth cooled, said late on Tuesday it plans to buy back up to 3 billion euros ($3.72 billion) worth of its shares by 2021, or almost 9 percent of its share capital.On Wednesday, Adidas said quarterly sales rose 12 percent to 5.06 billion ...

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First Published: Wed, March 14 2018. 12:05 IST