GERMANY: World Cup Costs Hit Adidas, Keeps Forecasts
Costs of the soccer World Cup combined with retail expansion activities have resulted in a sharper-than-expected fall in first quarter profits at the world's number two sportswear and equipment maker Adidas-Salomon. But the company said Thursday it stood by its 2002 forecasts of net income growth of 5-10 per cent and sales growth of five per cent.