FRANKFURT: Adidas continued to lose ground to larger rival Nike in Europe in the third quarter, putting pressure on the sports apparel group to make the most of sales opportunities offered by next year’s soccer World Cup in Brazil.
Adidas, the world’s second largest maker of sports gear behind Nike, said third-quarter operating profit dropped 6% on sales down 7%, hit by distribution problems in Russia, currency effects and poor sales of golfing products.
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