BERLIN (Reuters) – German sportswear company Adidas pared its full-year forecasts for sales and profits due to sourcing disruptions and the challenging market environment in China after its third-quarter results missed average analyst expectations.
Adidas on Wednesday reported third-quarter sales rose a currency-neutral 3% to 5.752 billion euros ($6.65 billion), while operating profit fell 8.5% to 672 million euros, shy of average analyst forecasts for 5.83 billion and 682 million respectively.
(Reporting by Emma Thomasson; Editing by Riham Alkousaa)
