Adidas sees sales slump

German sportswear giant Adidas lowered its sales forecasts yesterday to “low- to mid-single digit” growth following poor figures in the US and western Europe. In its first-half results the firm reported that like-for-like sales dropped in western Europe to €1.9bn (£1.64bn). The sports giant said that this was largely down to increased event related sales in 2012 from the Olympic Games and Euro 2012. However, strong revenues in emerging markets, most notably 21 per cent growth in Latin America, offset the dip.

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